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Closed account still factor into AAoA for FICO?

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merlinflex
Frequent Contributor

Re: Closed account still factor into AAoA for FICO?


@Anonymous wrote:

I fully support the way folks here are giving the OP the language about "ten years", because in practice that's what will almost certainly happen. 

 

But....

 

... as myFICO veteran RobertEG has pointed out many times, it is possible for a closed account to vanish from one's report much sooner than 10 years.  If that happens it will be because the creditor decided to remove it.  That's uncommon but it can happen.  If it does happen, then of course that account will no longer be included in any of the age-based calculations.


Hope that is not the case, I just checked some credit card accounts this morning to make sure they are zeroed out and about to pull the trigger on consolidating and moving those CLs over to other cards that are younger in age.

Message 11 of 15
Anonymous
Not applicable

Re: Closed account still factor into AAoA for FICO?


@merlinflex wrote:

@Anonymous wrote:

I fully support the way folks here are giving the OP the language about "ten years", because in practice that's what will almost certainly happen. 

 

But....

 

... as myFICO veteran RobertEG has pointed out many times, it is possible for a closed account to vanish from one's report much sooner than 10 years.  If that happens it will be because the creditor decided to remove it.  That's uncommon but it can happen.  If it does happen, then of course that account will no longer be included in any of the age-based calculations.


Hope that is not the case, I just checked some credit card accounts this morning to make sure they are zeroed out and about to pull the trigger on consolidating and moving those CLs over to other cards that are younger in age.


Hi MerlinFlex.  Do you mean (a) that you hope TT, RobertEG, and myself are mistaken that closed accounts sometimes leave your report early?  Or do you mean (b) you hope that this just doesn't happen to you?

 

If (a) I promise you that it really does happen.  It's well documented.  If (b) you can be pretty confident it will not.  TT can tell you more about his case history, but if I remember right it was because he was scrapping with the issuer, trying to get them to correct something in the report that wasn't quite right.  They responded ultimately by deleting the account outright, which they are legally permitted to do.  So as long as you just allow the account to sit there and are not pushing them to review it, you'll lower the already unlikely chance it will be deleted. 

 

You are not planning to close your oldest open account, right?

Message 12 of 15
merlinflex
Frequent Contributor

Re: Closed account still factor into AAoA for FICO?


@Anonymous wrote:

@merlinflex wrote:

@Anonymous wrote:

I fully support the way folks here are giving the OP the language about "ten years", because in practice that's what will almost certainly happen. 

 

But....

 

... as myFICO veteran RobertEG has pointed out many times, it is possible for a closed account to vanish from one's report much sooner than 10 years.  If that happens it will be because the creditor decided to remove it.  That's uncommon but it can happen.  If it does happen, then of course that account will no longer be included in any of the age-based calculations.


Hope that is not the case, I just checked some credit card accounts this morning to make sure they are zeroed out and about to pull the trigger on consolidating and moving those CLs over to other cards that are younger in age.


Hi MerlinFlex.  Do you mean (a) that you hope TT, RobertEG, and myself are mistaken that closed accounts sometimes leave your report early?  Or do you mean (b) you hope that this just doesn't happen to you?

 

If (a) I promise you that it really does happen.  It's well documented.  If (b) you can be pretty confident it will not.  TT can tell you more about his case history, but if I remember right it was because he was scrapping with the issuer, trying to get them to correct something in the report that wasn't quite right.  They responded ultimately by deleting the account outright, which they are legally permitted to do.  So as long as you just allow the account to sit there and are not pushing them to review it, you'll lower the already unlikely chance it will be deleted. 

 

You are not planning to close your oldest open account, right?


No, not my oldest account(s), which are Amex going back 20 years. It is two credit cards at Cap1, from 2008 & 2010, and consolidating those to a newer card from 2015.

Message 13 of 15
Thomas_Thumb
Senior Contributor

Re: Closed account still factor into AAoA for FICO?


@Anonymous wrote:

@merlinflex wrote:

@Anonymous wrote:

I fully support the way folks here are giving the OP the language about "ten years", because in practice that's what will almost certainly happen. 

 

But....

 

... as myFICO veteran RobertEG has pointed out many times, it is possible for a closed account to vanish from one's report much sooner than 10 years.  If that happens it will be because the creditor decided to remove it.  That's uncommon but it can happen.  If it does happen, then of course that account will no longer be included in any of the age-based calculations.


Hope that is not the case, I just checked some credit card accounts this morning to make sure they are zeroed out and about to pull the trigger on consolidating and moving those CLs over to other cards that are younger in age.


Hi MerlinFlex.  Do you mean (a) that you hope TT, RobertEG, and myself are mistaken that closed accounts sometimes leave your report early?  Or do you mean (b) you hope that this just doesn't happen to you?

 

If (a) I promise you that it really does happen.  It's well documented.  If (b) you can be pretty confident it will not.  TT can tell you more about his case history, but if I remember right it was because he was scrapping with the issuer, trying to get them to correct something in the report that wasn't quite right.  They responded ultimately by deleting the account outright, which they are legally permitted to do.  So as long as you just allow the account to sit there and are not pushing them to review it, you'll lower the already unlikely chance it will be deleted. 

 

You are not planning to close your oldest open account, right?


My account, which was closed in late 2009 due to BB changing from Cap One to CBNA, had a CL of $5000. However, at some point Cap One started reporting the CL as $300. It appeared the low CL, even though the card was closed, was impacting my CBIS score. I sent Cap One a letter asking them to correct the CL along with supporting documentation. Their solution was to remove the account.

 

Cap One letter.jpg

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 14 of 15
rmduhon
Valued Contributor

Re: Closed account still factor into AAoA for FICO?

On the flip side, I had a closed account still showing on one of my reports 13 years after closure.
Message 15 of 15
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