Reply
New Contributor
Posts: 152
Registered: ‎02-07-2013
0

Should I request a TL delete on 3 CO Amex accounts, or leave them?

I just read that sometimes your score can dramatically DROP by deleting a charged-off tradeline because you lose the age of that account that was contributing to your overall average age of accounts. Wondering if that might be true in my case and might be better to hault my efforts to try and get 3 CO Amex accounts deleted. All 3 Amex accounts are settled/zero balance; charged off status. I only have a total of 12 accounts on my credit history, so these 3 are a good chunk of them. I'm young (only 22) and opened these 3 accounts when I was 15, so they are among my oldest accounts. I also have a Shell gas card that I opened the same year as these Amex accounts, which I still have and is current. Aside from that, I'm a joint account holder on a 16 year old Discover card (with perfect payment history, $15K credit limit and very low utilization).


Right now, according to Credit Karma, my average account age is 8 years and 6 months (I can't remember for sure, but I think it spiked to that, up from an average age of 4 years when I was added as a joint account holder on the 16 year old Discover card). So I would guess that my average account age would take a dive if I get those (3) 7-year-old Amex accounts deleted.

 

Question is: Don't you think it would be better to get 3 charged-off accounts deleted (even though they were paid, which is why I think I might be able to get them deleted) as opposed to leaving them on my report for the age history?

Moderator
Posts: 13,869
Registered: ‎04-15-2011
0

Re: Should I request a TL delete on 3 CO Amex accounts, or leave them?

Personally I prefer a clean account even if it did drop my AAoA a bit and my score.  A clean report has more ability to grow than a dirty one.  The only exception I have to this is minor derogs, such as 30 day lates.  

 

On another note, CK only counts the AAoA of open accounts.



Starting Score: 504




July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
New Contributor
Posts: 152
Registered: ‎02-07-2013
0

Re: Should I request a TL delete on 3 CO Amex accounts, or leave them?

Thanks! That's what I was thinking, too! Would just be so nice to know that I have ZERO negative accounts on my CR and that my CR is clean as a whistle.

 

What is CK?

Established Member
Posts: 12
Registered: ‎02-02-2013
0

Re: Should I request a TL delete on 3 CO Amex accounts, or leave them?

ck - Credit Karma

New Contributor
Posts: 152
Registered: ‎02-07-2013
0

Re: Should I request a TL delete on 3 CO Amex accounts, or leave them?

Oh, gotcha. Thanks!


So the AAoA on CK would show what my actual AAoA is then WITHOUT those 3 CO Amex accounts. Interesting. I guess 8 year average isn't too bad and that's what I'll have without those Amex accounts. Wonder what the AAoA is WITH those accounts as I'm assuming while CK doesn't take closed accounts into consideration of the AAoA, lendors/creditors do??

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.