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How many points is an aged BK worth?

tag
masscredit
Valued Contributor

How many points is an aged BK worth?

All of my credit reports are almost totally clean. No more tax liens on my TU and EX reports. I have one reporting on EQ. That relates to a past business and all of the info is there so I don't think it will be going anywhere.  Current scores with about 14% utiliation are - 

 

EQ - 739

TU - 748

EX - 748

 

TU and EX usually don't move to much when I have a few cards reporting. EQ is sensitive to that. It was at 743 with 1% utilization. 

 

I thought I would have gained more than a few points when the liens were removed. I was hoping for at least 10-15. Maybe they were only worth a few points because they are 7-8 years old?   So at this point my scores are pretty much maked with the BK. I'm wondering how many points it might be worth at this point? It will be removed from my reports in 23 months. Is it only worth 5-10 points because of it's age or does it still carry a lot of weight so I might see a 50-70 point gain when it's removed?

 

 

Pre-Credit Rebuild Scores Pre-DC (3/24/22) - EQ - 524 / TU - 519 / EX - 495

Current Scores - EQ - 687 / TU - 663/ EX - 677

SDFCU Secured - $5000 / TD Bank - $5000 / Mercury - $5000 / Capital One Savor One- $5000 / Capital One QuickSiver - $4500 / Ally Master Card - $2800/ Walmart Mastercard - $2250

Andrews FCU SSL $1500
Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: How many points is an aged BK worth?

What is your AAoA?  Have you ever reported 8.9% aggregate utilization or less?  If so, how did your scores compare at that utilization to the 14% that you currently sit at?

 

If this is your final baddie, I don't think a 50-70 point gain is out of the question as it's a major one and likely impacting your scores severely still.  If your file is relatively aged, thick and you haven't been apping for credit recently coupled with a clean file and low utilization, there's no reason your scores wouldn't fall into the 790-810 range, perhaps even higher.

 

My final baddie (major) coming off resulted in score gains of about 60 points on average, taking me from 760 to 820 give or take.  That was with 1-2 inquiries per bureau, 7 year AAoA, 15 year AoOA, 1% utilization and an installment loan (mortgage) present. 

Message 2 of 6
masscredit
Valued Contributor

Re: How many points is an aged BK worth?


@Anonymous wrote:

What is your AAoA?  Have you ever reported 8.9% aggregate utilization or less?  If so, how did your scores compare at that utilization to the 14% that you currently sit at?

 

If this is your final baddie, I don't think a 50-70 point gain is out of the question as it's a major one and likely impacting your scores severely still.  If your file is relatively aged, thick and you haven't been apping for credit recently coupled with a clean file and low utilization, there's no reason your scores wouldn't fall into the 790-810 range, perhaps even higher.

 

My final baddie (major) coming off resulted in score gains of about 60 points on average, taking me from 760 to 820 give or take.  That was with 1-2 inquiries per bureau, 7 year AAoA, 15 year AoOA, 1% utilization and an installment loan (mortgage) present. 


My AAoA is 3 years 6 months. Utilization is usually in the 1-2% range (1-2 cards). EQ lost 9 points when it went over 10%. I believe that was with 5 cards reporting. It gained a few of those points back with 3-4 cards. It take a lot to get my TU score to move. That hung at 745 the whole time. I only check EX once per month so that might have had movement that I didn't see.  I have one recent app from last week (PenFed). That's on my EQ report. Didn't lose any points. I have 3 new cards from Jan 2016. 

Pre-Credit Rebuild Scores Pre-DC (3/24/22) - EQ - 524 / TU - 519 / EX - 495

Current Scores - EQ - 687 / TU - 663/ EX - 677

SDFCU Secured - $5000 / TD Bank - $5000 / Mercury - $5000 / Capital One Savor One- $5000 / Capital One QuickSiver - $4500 / Ally Master Card - $2800/ Walmart Mastercard - $2250

Andrews FCU SSL $1500
Message 3 of 6
gdale6
Moderator Emeritus

Re: How many points is an aged BK worth?

In all honesty there is no set points for an aged BK. In my case with a clean file and just the BK I attained a 739 Fico 8 5 months prior to its scheduled drop date and when I was able to get an EE it was gone 2 months early and that Fico score soared to 805.

Message 4 of 6
Anonymous
Not applicable

Re: How many points is an aged BK worth?

The data point from the above example references a 66 point gain, in the 50-70 point "from the hip" range that was suggested.

 

Another minor point to understand as well is that under FICO models, AAoA is only seen in whole numbers, so 3 years and any months will be seen/scored as "3 years" for AAoA.

Message 5 of 6
iheartwings
Valued Contributor

Re: How many points is an aged BK worth?


@Anonymous wrote:

The data point from the above example references a 66 point gain, in the 50-70 point "from the hip" range that was suggested.

 

Another minor point to understand as well is that under FICO models, AAoA is only seen in whole numbers, so 3 years and any months will be seen/scored as "3 years" for AAoA.


I would say that's a pretty good range guess. I had a clean file, AAoA of 7-8 years, 1-6 HP, one student loan with B/L ratio ~97-101% (depending on when the BK fell off), UTIL ~ 1% on 1-2 cards monthly and my scores went up between 52-58 points after the BK came off. 

 

 

 

Message 6 of 6
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