topic Re: Removing AU accts = score drop?? in Rebuilding Your Credit

Removing AU accts = score drop??

Anonymous — Thu, 26 May 2016 15:26:48 GMT

So I had 2 AU accts with a balance so I had myself removed and had them removed from my reports. My utilization went down from around 50% (or more) to 14% (soon to be 10%) and I lost $600 in available credit. My EX score has actually gone down a few points (idk about the other 2 yet). Is this typical? I know 2 of my 3 accts are newly reported so maybe that's why I went down a few points but I thought the dramatic drop in util would counteract a AAoA drop. Any ideas?

Re: Removing AU accts = score drop??

RonM21 — Thu, 26 May 2016 16:13:23 GMT

It just depends on your overall profile. If the EX score dropped that could be an early sign that the AAoA dropping may have slightly outweighed the util drop on that report. Also, it may be that all kf the changes haven't reported yet.

Re: Removing AU accts = score drop??

Anonymous — Thu, 26 May 2016 16:15:51 GMT

No that I can see everything has reported. It was just the removal of 2 AU accts so I know the score is accurate. It just sucks seeing the score drop when I've been working so hard. I've still got 3 baddies I'm trying to save for to PFD soon but I had hoped the addition of my 2 cap1 cards would help not hurt.

Re: Removing AU accts = score drop??

Anonymous — Thu, 26 May 2016 19:03:45 GMT

@Anonymous wrote:
No that I can see everything has reported. It was just the removal of 2 AU accts so I know the score is accurate. It just sucks seeing the score drop when I've been working so hard. I've still got 3 baddies I'm trying to save for to PFD soon but I had hoped the addition of my 2 cap1 cards would help not hurt.

What was your AAoA with the AU accounts, and what is it without them?

Re: Removing AU accts = score drop??

Anonymous — Thu, 26 May 2016 20:04:54 GMT

According to CCT, it was 2.8 years with them and 2.9 without them. One of them had literally just reported a few days before I had it removed and the other was from Sept 2015.

Re: Removing AU accts = score drop??

RobertEG — Thu, 26 May 2016 21:29:43 GMT

The substantive value of ditching the AUs is that you now have a score that represents your own risk analysis.

While you had an AU reporting, your score did not represent your own risk analysis.

Some creditors, upon seeing an AU in a manual review, will discount the value of any score in their decision making.

Re: Removing AU accts = score drop??

Anonymous — Thu, 26 May 2016 21:32:24 GMT

@Anonymous wrote:
According to CCT, it was 2.8 years with them and 2.9 without them. One of them had literally just reported a few days before I had it removed and the other was from Sept 2015.

Then AAoA is not the issue. That's an insignifigant difference.

Re: Removing AU accts = score drop??

Anonymous — Thu, 26 May 2016 21:33:50 GMT

@Anonymous wrote:
@Anonymous wrote:
According to CCT, it was 2.8 years with them and 2.9 without them. One of them had literally just reported a few days before I had it removed and the other was from Sept 2015.
Then AAoA is not the issue. That's an insignifigant difference.

How old are your current open revolving accounts?

Re: Removing AU accts = score drop??

Anonymous — Thu, 26 May 2016 21:49:22 GMT

16 months and almost 2 months. I closed one at the year mark (CreditOne)

Re: Removing AU accts = score drop??

Anonymous — Thu, 26 May 2016 21:51:52 GMT

@Anonymous wrote:
16 months and almost 2 months. I closed one at the year mark (CreditOne)

Were either of the AU accounts older than 2 years?

Re: Removing AU accts = score drop??

Anonymous — Thu, 26 May 2016 22:08:36 GMT