Re: Closed accounts stay on for 10 years, correct?[ Edited ]
10-05-2012 09:09 PM - edited 10-05-2012 09:10 PM
It's impossible to say. Especially not knowing what else is on your credit report. Based on your scores you have posted, I am going to assume you have some negative information as well. Yes, your AAoA will drop, but all your other accounts are going to be aged 1.5 additional years from now. 10 year old accounts have been dropping off on me lately, it kinda stinks.
Credit history counts for 15% of your score. So, the most you can get out of that is around 65 points or so. You might still be looking at an AAoA of around 8 years when the student loans finally come off. You will go from like 12-8. You will still get a lot of points with AAoA of 8 years, and some of your baddies might come off, or count less.
I have 1x30 day late on account from Dec 2010
1x90 day late on different account from Nov 2007 (when this drops in Nov 2014 I'll probably gain most back from what I lost with AAoA)
1 paid CO (Verizon) from July 2009 for $109 (will be 5 years old around time that this happens so it shouldn't be hurting scores too much by 2014)
and Crap1 Auto (mess) worst late 60 days, last late March 2012.
As long as I can keep scores around 750 I'll be happy (Ive targeted June 2014 as my target date to reach my goal of 750. It will be 2 year anniversary of this rebuild)
Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750
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