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Is the "date opened" the same as....

pipergirl71
New Contributor

Is the "date opened" the same as....

The Date of First Delinquency? 

 

I purchased Fico's Score Watch and pulled my Equifax report, and I'm trying to figure out when some of these derogs will fall off my credit report. 

 

It seems like I saw somewhere, though now I can't remember where!, a DOFD, but I can't remember which site I got that info from, but I guess it wasn't FICO. 

 

Anyway, TIA!

EQ 702
Message 1 of 9
8 REPLIES 8
guiness56
Epic Contributor

Re: Is the "date opened" the same as....

DoFD is date of first delinquency.  This is the date used to determine when something falls off your report.  It is the date you were late and never brought the account current again.

 

Date opened has no meaning to anything on your report.  This is the date the CA received the account from the OC.

 

If you are looking at an OC account, date opened is the date you started credit with them.

Message 2 of 9
AndySoCal
Valued Contributor

Re: Is the "date opened" the same as....

The date open is the date when you opened the account with the original creditor. Or it is the date an account was opened at a collection agency. This adate is useful  in figuring your avergage age of account. If you have collection accounts the one(s) the were most recently opened are having a greater impact on your credit score.

FICO 8 EX 794 TU 794 EF 805
Discover IT Opened 9/1990 CL 19,000, JC Penney Opened 10/2008 CL 4700, US Bank Cash Plus Opened 8/2010 CL 12000, Citibank Double Cash Opened 5/2015 CL 11,100, Chase Freedom Flex Opened 09/2020 CL 10,500
Message 3 of 9
guiness56
Epic Contributor

Re: Is the "date opened" the same as....


@AndySoCal wrote:

The date open is the date when you opened the account with the original creditor. Or it is the date an account was opened at a collection agency. This adate is useful  in figuring your avergage age of account. If you have collection accounts the one(s) the were most recently opened are having a greater impact on your credit score.


The date opened by a CA has no impact on your score whatsoever.  It is the date reported that impacts your score.

Message 4 of 9
AndySoCal
Valued Contributor

Re: Is the "date opened" the same as....

Guiness,  Do you have link  on the source of the date opened vs date reported on the impact of the collection account.?

FICO 8 EX 794 TU 794 EF 805
Discover IT Opened 9/1990 CL 19,000, JC Penney Opened 10/2008 CL 4700, US Bank Cash Plus Opened 8/2010 CL 12000, Citibank Double Cash Opened 5/2015 CL 11,100, Chase Freedom Flex Opened 09/2020 CL 10,500
Message 5 of 9
guiness56
Epic Contributor

Re: Is the "date opened" the same as....


@AndySoCal wrote:

Guiness,  Do you have link  on the source of the date opened vs date reported on the impact of the collection account.?


I'll look for one and let you know.

 

The date opened never changes.  If you were to go back and look at old reports that date should be the same.  Date reported or status date is what changes.

 

 

Message 6 of 9
AndySoCal
Valued Contributor

Re: Is the "date opened" the same as....

Let me clrify what I was interested in is FICO using the date reported and not the date opened  collection accounts for recentcy of the account for the FICO score.

FICO 8 EX 794 TU 794 EF 805
Discover IT Opened 9/1990 CL 19,000, JC Penney Opened 10/2008 CL 4700, US Bank Cash Plus Opened 8/2010 CL 12000, Citibank Double Cash Opened 5/2015 CL 11,100, Chase Freedom Flex Opened 09/2020 CL 10,500
Message 7 of 9
guiness56
Epic Contributor

Re: Is the "date opened" the same as....


@AndySoCal wrote:

Let me clrify what I was interested in is FICO using the date reported and not the date opened  collection accounts for recentcy of the account for the FICO score.


Yes, FICO uses the date reported not the date opened.

Message 8 of 9
AndySoCal
Valued Contributor

Re: Is the "date opened" the same as....

What is the source of FICO using the date reported not the date opened for date reported for collection accounts?

 

FICO 8 EX 794 TU 794 EF 805
Discover IT Opened 9/1990 CL 19,000, JC Penney Opened 10/2008 CL 4700, US Bank Cash Plus Opened 8/2010 CL 12000, Citibank Double Cash Opened 5/2015 CL 11,100, Chase Freedom Flex Opened 09/2020 CL 10,500
Message 9 of 9
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