Epic Contributor
Posts: 24,710
Registered: ‎03-19-2007
Re: Which is better, remove or left alone an account with 16 years of history with one late 6 years
[ Edited ]

I would definately not seek deletion of the account..

Aside from being the oldest account, which helps both oldest acct and AAoA, it shows, upon a manual review, that the consumer has been in the credit market awhile.

While consumer age is not a FICO scoring criteria, it is certainly a factor used by creditors in their own internal determinations.

By implication, and oldest account of 16 years represents a consumer in at least their mid-30's.  Not a twenty-year oldish new consumer.

And, as stated, upon expiration of 7 years from the 2006 delinquency date, the derog will be gone from manual review.


However, any consumer decision may be academic.  The CRAs have an internal, and in my opinion questionable, policy of deleting accounts after they have passed all of their usual credit report exclusion periods... approx 10 years from date of closure of the account.

The consumer has no control over this arbitrary deletion.  It may go poof on its own.

When was the account closed?