Balancing Credit Goals - Please advise

[Anonymous]

@AllZero Not necessarily true; sometimes the oldest account falling off can cause scorecard reassignment with unpredictable results, possibly downward.

Although we don't know the breakpoints, lately some evidence has indicated that EX FICO 8 could be at 3 years, while EX FICO 98 could be 2 years. Common wisdom has always placed them much further out. But there could be some other things going on we haven't figured out yet.

Still be nice if he could get on an old AU or joint without HP that backdates.

[Anonymous]

I have old, old student loans, so except for youngest credit, age is not a problem.

Here's a clarification on my two derogatories. I have a United Bank loan with a 90 day late payment. It is from 7 years ago. But the earliest delinquency will not reach 7 years until March. I suppose I have to wait until March. There's a similar issue with my First Premier account. It is also at about seven years, but the first delinquency will not hit seven years until 2021. I have tried challenging both of these without success. Looks like I will just have to wait. But in reality, how many points are they really costing me at the seven year mark? One is a paid charge-off and the other is a late payment.

[Anonymous]

FICO 9 EQ is already at 745. FICO 8 TU is at 743. FICO 8 EX was at 734 a couple of weeks ago.

[AllZero]

Birdman7, noted. I'm not sure which is more detrimental; deragatory or young account.

Segmentation (-) and removal of derogatory (+) might net him a gain. Of course, this is pure speculation as I don't have any hard data points to support it.

[Anonymous]

Easy 30 points, maybe much more; 30-60 points

[Anonymous]

You didn't tell us about prior loans, how many accounts on your CR? what's your AoOA?

[Anonymous]

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@AllZero wrote:
Birdman7, noted. I'm not sure which is more detrimental; deragatory or young account.

Segmentation (-) and removal of derogatory (+) might net him a gain. Of course, this is pure speculation as I don't have any hard data points to support it.

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@AllZero It's not which is more detrimental. When you are re-assigned, you are compared against a different subset of people and different weighting is applied to scoring factors.

As a result, everything is weighed and calculated differently. I've seen people with an old derogatory fall off, and they lose significant points because they lack other old accounts. Search the forum, you will find them. It's hard to predict when there is reassignment due to an old derogatory falling off with no older accounts.

But, lucky for OP, he has other old accounts, so he should see the rise you predicted.

[AllZero]

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@Anonymous wrote:
I have old, old student loans, so except for youngest credit, age is not a problem.

Here's a clarification on my two derogatories. I have a United Bank loan with a 90 day late payment. It is from 7 years ago. But the earliest delinquency will not reach 7 years until March. I suppose I have to wait until March. There's a similar issue with my First Premier account. It is also at about seven years, but the first delinquency will not hit seven years until 2021. I have tried challenging both of these without success. Looks like I will just have to wait. But in reality, how many points are they really costing me at the seven year mark? One is a paid charge-off and the other is a late payment.

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As Birdman7 mentioned, those 90 day lates are a major delinquency and greatly impacting your score. They usually hurt the entire 7 years compared to a 30 day late.

You can try calling Transunion. Ask to speak to a supervisor to remove the United Bank loan late payment. Sometimes the front line CSR can assist. If the 7 year mark is 3/2020, you should be eligible now.

For the First Premier account, what is the DOFD Date Of First Delinquency? Was the account ever brought current in between the time it was charged off 6.5 years ago?

[Anonymous]

I paid off First Premier $587 about two months ago. It showed as delinquent before that, now shows as paid charge off.

[Anonymous]

Will double check DOFD.