23 yr history gone from report

[Imhotrodcrazy]

Well I had an old paid off mortgage account that was closed 10 years ago and it dropped off of my reports  this month.  It was my oldest account and represented 23 yrs of history.  Before it dropped,  my aaoa was 6.5 years,  and as of today it is now 4.9 yrs.  My report consists of 9 total accts,  7 open and 2 closed.  The 7 open accts consists of 1 mortgage,  5 cc's,  and 1 loc.   However,  I am happy as all  of  my scores still remain above 800.  I wish they wouldn't drop positive accts,  because we work so hard  for them,  trying to keep our aaoa high.  Just thought I would pass the info along in case anyone is curious about the numbers game. 

edit:  I forgot to add that my oldest acct now is 10 yrs. 

[Anonymous]

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@Imhotrodcrazy wrote:

Well I had an old paid off mortgage account that was closed 10 years ago and it dropped off of my reports  this month.  It was my oldest account and represented 23 yrs of history.  Before it dropped,  my aaoa was 6.5 years,  and as of today it is now 4.9 yrs.  My report consists of 9 total accts,  7 open and 2 closed.  The 7 open accts consists of 1 mortgage,  5 cc's,  and 1 loc.   However,  I am happy as all  of  my scores still remain above 800.  I wish they wouldn't drop positive accts,  because we work so hard  for them,  trying to keep our aaoa high.  Just thought I would pass the info along in case anyone is curious about the numbers game. 

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Thanks for the data point. It is always interesting to see how those events influence our scores.

[Anonymous]

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@Imhotrodcrazy wrote:

Well I had an old paid off mortgage account that was closed 10 years ago and it dropped off of my reports  this month.  It was my oldest account and represented 23 yrs of history.  Before it dropped,  my aaoa was 6.5 years,  and as of today it is now 4.9 yrs.  My report consists of 9 total accts,  7 open and 2 closed.  The 7 open accts consists of 1 mortgage,  5 cc's,  and 1 loc.   However,  I am happy as all  of  my scores still remain above 800.  I wish they wouldn't drop positive accts,  because we work so hard  for them,  trying to keep our aaoa high.  Just thought I would pass the info along in case anyone is curious about the numbers game. 

edit:  I forgot to add that my oldest acct now is 10 yrs. 

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Our OP makes a crucial observation at the end.  Whatever score loss he experienced, little of it owed to his AAoA going down.  In his case it was another factor:

 Age of Oldest Account. 

It looks like a few months ago his profile was 33 years old (23 years of mortgage history + 10 years after it closed).  Today his profile is only 10 years old.  That's a huge change for that factor!

It's worth drawing our attention to because many of us on this forum will reduce the entire "Age" category to one factor (AAoA).  But that's not true.  Age of Oldest Account is another big factor from it (and there are others as well).  Thanks OP!

[Thomas_Thumb]

CGID - I read the PO's 23 years of history as the mortgage being closed at 13 years, 10 years ago. So 23 years history total. Regardless, age of oldest account is an important factor as you say.

I would note that AAoA is likely fully satisfied as a scoring factor at 8 years per what I have seen from Inverse's posts. Below that, I suspect AAoA is binned with points being deducted as AAoA drops. Going from over 6 years to under 5 is significant. As long as  AAoA is above 8 years, I don't suspect age of oldest account affects score. 

Example: Assume AAoA is 16 years and you your 2 oldest accounts are 30 years and 18 years. If the 30 year old account drops off leaving oldest at 18 years, no score impact if AAoA drops to 11 years but some impact if AAoA were to drop to 7 years.

[Anonymous]

Hello TT!  Either interpretion of the OP's post could be right.  When people refer to an installment loan as having X years of history, they often mean payment history.  I.e. I made payments for X years on that loan and this was reflected on my report.

Or he might have been including the 10 years after it closed in his 23 year figure.  Both possibilities occured to me, but I have heard people use the former a little more often when they are talking about a loan they made payments on.  (And a 23 year payment history for a mortgage is quite possible.)

But like you say, going from a profile that is 23 years old to 10 is still a huge change for that factor (Age of Oldest). 

The good news about his AAoA is that it is at 5.9 now.  In just a couple months it will be over 6 years.

[gbwhite1]

My confusion is with scoring. I understand hat each of the B-3 use different criteria determining scores. But how about when you go to the same site and go to different areas where they post scores? I go to the B-3 and see different (and sometimes drastic) changes in the scores on the sime site. For instance, at TransUnion I show a S8 777 score but at another place at the same site my S8 score is 803. Shoudn't you expect your scores be the same at the same site?

Color Me,

Confused In Philadelphia

[Revelate]

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@gbwhite1 wrote:

My confusion is with scoring. I understand hat each of the B-3 use different criteria determining scores. But how about when you go to the same site and go to different areas where they post scores? I go to the B-3 and see different (and sometimes drastic) changes in the scores on the sime site. For instance, at TransUnion I show a S8 777 score but at another place at the same site my S8 score is 803. Shoudn't you expect your scores be the same at the same site?

Color Me,

Confused In Philadelphia

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No, as the bureaus sell multiple scores to consumers.

Pick one particular score that you have regular access to and use that as your benchmark; what is in general good for one is in general good for the other, and that holds true across bureaus and FICO versions too other than sometimes various things skip a model, like FICO 04 doesn't factor installment utilization at all whereas 98, 8, and reportedly FICO 9 all do.

Just try not to be a masochist and pick your historical lowest score like I did (EQ Beacon 5.0) for your own personal benchmark... I am always diappointed in myself looking at that score

[CreditMagic7]

Thanks plenty Imhotrodcrazy for sharing the data point.

Equally also for TT and CGID's analytic observations and relevant data.

I note although those who are in the 800 club do seem to inherit some immunity from the more hazardous swings us 700 clubbers are prone to, this is very benefical on our own climb so as to keep as steady a pace as possible while working up to cross over point gain thresholds in this particular area.

I feel so very green now sporting a mere 1 yr 9 month Average Age propped up by just a 4 yr 7 month Oldest Account w/ newest account at 3 months (Alliant SSL).

As important as Utilization is on FICO scoring models i'm very much more intrigued with this particular aspect of the overall scoring system.

Again my thanks.