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Was this account closed for 10 years? That's how long goodstanding reports are supposed to stay on your reports. Some stay longer, some stay shorter. YMMV.
The only thing you can do is ask that the OC re-report this account.
Welcome bobflattop! Glad you're here.
.......and unfortunately Equifax is notorious for dropping off accounts early.
stinks
I know from personal experience how crushing it is to see a score drop when you're working so hard to build those scores up. But keep rebuilding and let time do it's good work. And if you post what's on your reports, you'll get great feedback from the folks here on how to keep gaining those FICO points.
oh, and that dropped account was closed, right?
Just thought I'd better check.
I can't tell any difference in the two reports. I have been combing them through with a yellow highlighter, the only difference is that balances have dropped, but still high utilization. The one CC that was paid off, shows it is still there and just paid off. I am getting blurry eyed looking at the report..the first page where it used to say these are the things helping you--used to say "12 yrs credit history", is the only thing missing off the newest report. It now says "there is nothing helping your score" of 549, drop from 565. (May as well as say "slacker"). These things are on my TU, which on a new pull shot up to 625 from 588. All accounts are still there. I have quite a few 30 days, some 90 days across the boards. We closed our accounts two years ago, when we hit hard times and wife lost job. We managed to sell home and have been renting. We pulled in January, and I was at a mid 588. I have one 30 day from December, but since January, we have been on time and with extra money to bring debt down, so this was completely unexpected. I went from not good to bad in payment history, so I'm guessing there is a little bit of a lag, but all balances are current, so I don't get the drastic drop when we have been current for what the report says 4 months, with no past dues, etc. I am beginning to hate this little game!
If you added another 30 day late, that would drop you a bit.
Here is how it went. Lender pull EQ-576 2/3/12, myFico 3/3-565, 3/5-EQ 549. On the 2/3 pull, the Dec lates, along with past dues, were already there. On the 3/3 pull, we were current with no lates. I'm not sure why I even went in on 3/5, but I think my wife went to pull hers and my page was still up, so I got another one. We are trying to get to 640 to buy my parent's place, this summer, so this really set me back. My wife went from 490 to 588 in a little over a month, but not sure we have enough cash on hand to bring down balances enough for both of us. We only have one joint debt, which is a line of credit, that is still open.
Being current, and in good-standing on accounts really only rewards your score by the aging of accounts and of reported derogs.
In length of credit, the additional aging of accounts over that period contributes to an increase in age of oldest account and average age of accounts. However, you receive that same benefit even had the account incurred delinquencies during that period. Length of credit history is only 15% of total score, so those increases are kinda slow.
With deletion of that oldest account, your efforts to build length of credit took a big offsetting hit, so any increase in account age resulting from your period of timely payments on other accounts was more than offset by the larger ding due to loss of that one account.
Time also causes the impact of reported delinquencies and derogs to decline, but that again, is relatively slow. A 6-12 month aging of derogs wont build a lot of points. Getting them actually deleted will result in more significant score increase.
With a score in the 600'ish area, there are most likely multiple delinquencies reporting. You state that you have no collections, PRs, etc., but I would venture a guess that you may have one or more charge-offs, which are major derogs on par with a collection, and multiple monthly account delinquencies.
Since you state that you are now current on all accounts, that leaves deletion of old derogs and reduction of utilization as your two main scoring candidates for improvement.
What efforts have you taken to attempt deletion of the old derogs? Have you sent good-will letters to the creditors and/or debt collectors who have reported derogs and you have now paid? That would be my suggested focus.