topic Re: The secrets to AAoA revealed? hehe in General Credit Topics

The secrets to AAoA revealed? hehe

Fico2Go — Sun, 15 Dec 2013 13:03:35 GMT

With my needless concerns the past several days that my newly opened acct would drop the AAoA I think got lucky and maybe even learned a new secret.

It appears each time my student loan switched servicing companies the event creates a new tradeline. When it switched three times it shows three tradelines with backdating to original date of student loan.

No wonder my AAoA hadnt budge with three new acct reporting.

Thank u. thank u.

What are some creative ways to have multiple tradelines from the same lender or creditor display on CRs??

Re: The secrets to AAoA revealed? hehe

credit_challenged09 — Sun, 15 Dec 2013 15:53:55 GMT

@Fico2Go wrote:
With my needless concerns the past several days that my newly opened acct would drop the AAoA I think got lucky and maybe even learned a new secret.

It appears each time my student loan switched servicing companies the event creates a new tradeline. When it switched three times it shows three tradelines with backdating to original date of student loan.

No wonder my AAoA hadnt budge with three new acct reporting.

Thank u. thank u.

What are some creative ways to have multiple tradelines from the same lender or creditor display on CRs??

my rehab should be complete by march/april... i hope it backdates my loans to the original date.... keeping my fingers crossed....

Re: The secrets to AAoA revealed? hehe

Rikku — Sun, 15 Dec 2013 16:02:35 GMT

@Fico2Go wrote:
With my needless concerns the past several days that my newly opened acct would drop the AAoA I think got lucky and maybe even learned a new secret.

It appears each time my student loan switched servicing companies the event creates a new tradeline. When it switched three times it shows three tradelines with backdating to original date of student loan.

No wonder my AAoA hadnt budge with three new acct reporting.

Thank u. thank u.

What are some creative ways to have multiple tradelines from the same lender or creditor display on CRs??

It's true that SLs usually work that way when they are transferred to another servicer, but as far as I know, you have no control over when/if they are transferred. It sounds like the situation worked out to your advantage, but the idea of purposely trying to get multiple TLs to show up for one account seems pretty dishonest to me.

Re: The secrets to AAoA revealed? hehe

Fico2Go — Sun, 15 Dec 2013 16:24:09 GMT

I don't think there's any dishonesty in play here. You just need to find a way to make it honest. You can use a knife two ways. Hurting others is just one way.

When I was a loan officer I scanned through hundreds of loan clients where a single account showed up on the same CR multiple times.

Some credit accounts showed up as a delinquent account + charged off + collection. So one account showed up three times as THREE tradelines.

BACK THEN I NEVER REALIZED THAT THE OPPOSITE COULD BE USED TO THE BENEFIT OF THE CONSUMER.

Re: The secrets to AAoA revealed? hehe

Fico2Go — Sun, 15 Dec 2013 16:26:25 GMT

Some people on this forum have experienced the horror of removing three tradelines from one creditor I'm sure.

Original derogatory TL

The collection TL

The charged off TL

The lawyer servicing co. TL

Comes time to remove them the consumer often run out of options or just let stay for 7 times.

Re: The secrets to AAoA revealed? hehe

indiolatino61 — Sun, 15 Dec 2013 16:46:32 GMT

@Fico2Go wrote:
With my needless concerns the past several days that my newly opened acct would drop the AAoA I think got lucky and maybe even learned a new secret.

It appears each time my student loan switched servicing companies the event creates a new tradeline. When it switched three times it shows three tradelines with backdating to original date of student loan.

No wonder my AAoA hadnt budge with three new acct reporting.

Thank u. thank u.

What are some creative ways to have multiple tradelines from the same lender or creditor display on CRs??

Don't forget, however, that AAoA is only a part of FICO. If, let's say, you have a $20K student loan reporting 3 times, FICO may also score that as you now having $60K in loans instead of the original $20K. This in turn may affect your DTI, etc.

Re: The secrets to AAoA revealed? hehe

Fico2Go — Sun, 15 Dec 2013 17:59:16 GMT

Ive not seen multiple TLs reported as multiple debts. Each time a sl is transferred it shows as a closed acct and has a 10 yr value as far as fico goes.

I think the idea is to find a way to inherit the old acct open date to the new acct. Much the same way that amex allows backdating.

Re: The secrets to AAoA revealed? hehe

MMB85 — Sun, 15 Dec 2013 18:26:17 GMT

Interesting. I have some student loans. All through the same company (federal). They've switched carriers (or whatever the term is ) a couple times but didn't notice it strengthening my AAoA. In fanct, when I got my Freedom card in June, my AAoA cut in half. Went from 6 years to 3 years and some change.

Re: The secrets to AAoA revealed? hehe

irrational — Sun, 15 Dec 2013 19:03:43 GMT

@credit_challenged09 wrote:
@Fico2Go wrote:
With my needless concerns the past several days that my newly opened acct would drop the AAoA I think got lucky and maybe even learned a new secret.

It appears each time my student loan switched servicing companies the event creates a new tradeline. When it switched three times it shows three tradelines with backdating to original date of student loan.

No wonder my AAoA hadnt budge with three new acct reporting.

Thank u. thank u.

What are some creative ways to have multiple tradelines from the same lender or creditor display on CRs??
my rehab should be complete by march/april... i hope it backdates my loans to the original date.... keeping my fingers crossed....

It should. At least it did for me With Sallie Mae. I was pleasantly surprised, as having it backdated to 2006 was never mentioned as one of the "benefits" of rehab.

Re: The secrets to AAoA revealed? hehe

Fico2Go — Sun, 15 Dec 2013 19:36:33 GMT

Its probably not a benefit. Just the way they connect rehabs and deferment to the original loan.
For refinancing and consolidation I dont think those carryover.

Re: The secrets to AAoA revealed? hehe

Fico2Go — Sun, 15 Dec 2013 19:41:20 GMT

Another technique where I have seen one TL show up as two is when there is a name change or card replacement. SOMETIMES a change to one part of an account or TL can result in the establishment of another or replacement acct#. This can also result in multiple tradelines with the initial one as closed but new one show original open date.

Re: The secrets to AAoA revealed? hehe

Anonymous — Mon, 16 Dec 2013 00:00:38 GMT

@Fico2Go wrote:
I don't think there's any dishonesty in play here. You just need to find a way to make it honest. You can use a knife two ways. Hurting others is just one way.

When I was a loan officer I scanned through hundreds of loan clients where a single account showed up on the same CR multiple times.

Some credit accounts showed up as a delinquent account + charged off + collection. So one account showed up three times as THREE tradelines.
BACK THEN I NEVER REALIZED THAT THE OPPOSITE COULD BE USED TO THE BENEFIT OF THE CONSUMER.

I have to agree that it seems unethical and would remind you of the TOS of the forums -

Discussion of illegal or unethical activities or providing links to other websites containing such information;

The TL you are decribing are NOT the same TLs. They are each separate, reported by separate creditors. One is the OC reporting the status of their account, one is a collection agency reporting the collection of the debt acquired by them and the 3rd is a PR. They may all have to do with the OC account but they are separate TLs.