topic Very Old Student Loans on CRs in Student Loans

Very Old Student Loans on CRs

OMW2_HighAcheiver — Mon, 21 Dec 2015 22:55:31 GMT

Hello All!

I have very old positive student loans reporting. Some of which date back to 2003. I have at least 9. All are consolidated into one, all federal. If my goal is to eventually have a "thin" file after clean up and they're still on, should I leave them? Or ask for exclusion?

Thanks!

Re: Very Old Student Loans on CRs

Hokies2379 — Mon, 21 Dec 2015 23:06:49 GMT

@OMW2_HighAcheiver wrote:
Hello All!

I have very old positive student loans reporting. Some of which date back to 2003. I have at least 9. All are consolidated into one, all federal. If my goal is to eventually have a "thin" file after clean up and they're still on, should I leave them? Or ask for exclusion?

Thanks!

If they are all positive, why would you want them off? They do nothing but help if they're positive

Re: Very Old Student Loans on CRs

OMW2_HighAcheiver — Mon, 21 Dec 2015 23:15:34 GMT

I know they help. So, help me understand what a thin file consists of. I thought it was no inqs, and the look of very few tradelines?

Re: Very Old Student Loans on CRs

Skye12329 — Tue, 22 Dec 2015 07:31:47 GMT

A thin file would basically mean you have 0 credit. Whenever someone has absolutely nothing on their report or they just started building credit. Their file is considered thin.

Re: Very Old Student Loans on CRs

Hokies2379 — Tue, 22 Dec 2015 16:19:45 GMT

@OMW2_HighAcheiver wrote:
I know they help. So, help me understand what a thin file consists of. I thought it was no inqs, and the look of very few tradelines?

You've pretty much nailed it there. But getting rid of a student loan that is reporting nothing but positive info isn't going to do anything but be counterproductive.

Others here can correct me if I'm wrong, but credit reports aren't like supermodels, no one has ever said that a report isn't thin enough.

Re: Very Old Student Loans on CRs

SCF — Wed, 23 Dec 2015 05:21:35 GMT

The other posters here are correct - a "thin" file isn't really something to shoot for. Any positive account should be enjoyed on your report for as long as it lasts. A thin file basically means you have very limited credit, and its harder to obtain good scores and additional credit if you need it, with just one or two accounts and limited history.

Re: Very Old Student Loans on CRs

pizza1 — Sun, 03 Jan 2016 15:47:49 GMT

Don't try and take them off your reports. let me give you an example....(me)

my school loans are 15 yrs old=AHOA (15yrs)

Take that away......my next oldest acct is yrs=AHOA (8yrs)

you want a long AHOA...not a short one, and it HELPS your profile, doesn't hurt it. Leave them be, or you'll really regret it.

Re: Very Old Student Loans on CRs

Hokies2379 — Sun, 03 Jan 2016 16:05:58 GMT

Even my bad student loans that had late payments ended up hurting my TU score significantly when I got them deleted bc of exactly what you're talking about.

Re: Very Old Student Loans on CRs

OMW2_HighAcheiver — Mon, 04 Jan 2016 04:13:13 GMT

Thanks Pizza & Hokies!

Re: Very Old Student Loans on CRs

ddemari — Thu, 17 Mar 2016 04:39:02 GMT

Yes what others said, postive student loans paid and closed on your reports are helping out a lot if you have a thin file. A few of my old, closed out in 2004 consolidated Wells Fargo loans fell off and my AAOA dropped more than the aftermath of opening 10 cards.

Re: Very Old Student Loans on CRs

Anonymous — Wed, 23 Mar 2016 15:11:43 GMT

I've got a total of 18 student loans listed on my credit report, and due to paying some off and consolidating others there are only 3 that are currently open. Having the closed ones still on my report gives me a greater average age of accounts and makes my credit report react less when I apply for a credit card, etc.