Understanding FICO® Scoring

turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Reply
Topic Options
Established Member
Bluesque
Posts: 10
Registered: ‎05-05-2007

Account aging

Options

‎05-06-2007 03:33 PM

I know that the average age of accounts is a significant factor in determing your score.  At what age of account do you move from new credit to established?  Current average age of accounts is 4 years, but I believe I have some old, closed accounts which are reported as open and could be removed at any time lowering my average age to 2 years.  Any help would be appreciated.
 
 
Message 1 of 4 (1,318 Views)
 
Reply
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: Account aging

Options

‎05-06-2007 04:55 PM


Bluesque wrote:
I know that the average age of accounts is a significant factor in determing your score.  At what age of account do you move from new credit to established?  Current average age of accounts is 4 years, but I believe I have some old, closed accounts which are reported as open and could be removed at any time lowering my average age to 2 years.  Any help would be appreciated.
 
 

MODS: Please move to proper forum.
 
Why do you want the old accounts removed? Are they derogs?
Message 2 of 4 (1,317 Views)
 
Reply
Established Member
Bluesque
Posts: 10
Registered: ‎05-05-2007

Re: Account aging

Options

‎05-06-2007 05:54 PM

The accounts in question were 60 days late at one point. 
Message 3 of 4 (1,313 Views)
 
Reply
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: Account aging

Options

‎05-06-2007 06:18 PM

Have you tried a goodwill letter?
 
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=2661
Message 4 of 4 (1,311 Views)
 
Reply

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
www.myfico.com is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+