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Old positive TL's disappearing off TU early

Frequent Contributor

Old positive TL's disappearing off TU early

I realize there is no rule that says CRA's must keep positive closed accounts for the full 10 years,

but is anyone else experiencing this?  I have 3 TL's that should still be reporting for another

8, 12, and 17 months respectively, and it's affecting my AAOA by 1.5 years on TU:  3.1y vs. 4.6y on the other two.

 


Message 1 of 10
9 REPLIES
New Contributor

Re: Old positive TL's disappearing off TU early

Same thing happened to me on TU about 3 weeks ago. My oldest TL, opened in 2005 and closed in 2014 just disappeared out of nowhere (closed in good standing). I lost 18 points on my TU FICO. Called TU to see what's up and all I was told was to call the creditor because they are the ones that send the info to them. Still intend to follow up on it, not sure if it's worth the headache though. Sigh...
Message 2 of 10
Super Contributor

Re: Old positive TL's disappearing off TU early


@CJ7 wrote:

I realize there is no rule that says CRA's must keep positive closed accounts for the full 10 years,

but is anyone else experiencing this?  I have 3 TL's that should still be reporting for another

8, 12, and 17 months respectively, and it's affecting my AAOA by 1.5 years on TU:  3.1y vs. 4.6y on the other two.

 


EQ stopped reporting 5 of my closed accounts within a year of their being closed.


FICO8 EQ 743 TU 777 EX 752 Total revolving limits 618800 (508800 reporting)
Message 3 of 10
Community Leader
Super Contributor

Re: Old positive TL's disappearing off TU early


@guera85 wrote:
Same thing happened to me on TU about 3 weeks ago. My oldest TL, opened in 2005 and closed in 2014 just disappeared out of nowhere (closed in good standing). I lost 18 points on my TU FICO. Called TU to see what's up and all I was told was to call the creditor because they are the ones that send the info to them. Still intend to follow up on it, not sure if it's worth the headache though. Sigh...

How much older is it than your next oldest account?  Age of Oldest Account is an important scoring factor, but if the difference between the two is only a year or so, then Age of Oldest isn't being affected significantly.

 

Was this TL a credit card?

Message 4 of 10
Community Leader
Super Contributor

Re: Old positive TL's disappearing off TU early

I'll be curious to hear if more people describe this happening to them at TU, in the next few weeks.

 

When EQ screwed over SouthJ, I remember it being a time when all kinds of stuff was going wrong with EQ's databases. 

 

The TU customer service rep that Guera spoke with was clearly just reading from a script -- the rep is right much of the time (i.e. if the account has been deleted by the action of the creditor) but if many people are suddenly finding their TU accounts disappearing at random, then the problem is TU not each individual creditor.  (Unless one wishes to posit a wild coincidence of many creditors all deciding to delete customer acccounts all at the same time.)

Message 5 of 10
Community Leader
Legendary Contributor

Re: Old positive TL's disappearing off TU early

While I have not seen recent posts that describe removal of old, closed accounts substantially earlier than the full 10 years, I do recall numerous posts several years ago that referenced removals as early as approx. 8 years after closing.

It is not unheard of for a CRA to do their housecleaning a bit early.

 

I would not expect any removals prior to 7 years after closure, as that is the normal period for exclusion of OC account derogs from the DOFD.

Once an account has been closed for over 7 years, no new date of first delinquency will have occured after the closure date, and thus reported derogs can begin to have become excluded.  Thus, accounts greater than 7 years from closing will begin to have substantially reduced completeness, and thus be of reduced value to creditors in evaluation of credit history and of scoring.

 

After 7 years from closure, CRA removal would begin to be justified, and at 10 years after closure, assured to have already excluded all OC account delinquencies, charge-offs, and and related collections, and thus be of minimal or no use to others in risk evaluation of payment history.

 

 

Message 6 of 10
Frequent Contributor

Re: Old positive TL's disappearing off TU early

Robert:  I'm drifting a little off-topic here, but is it normal for an AU account to immediately

vanish upon the closing of said account?  Capital One did this to me, and it was by far my

oldest tradeline.  Here I thought I was doing the right thing by calling Cap1 and having the

account closed out after the accountholder had passed away...


Message 7 of 10
New Contributor

Re: Old positive TL's disappearing off TU early

@CGinDixie
Yes it was a store credit account through Comenityopened in 2005. My next oldest account is a student loan opened in 2011, so the removed account was almost 6 years older. All my other current accounts were opened between Oct.- Dec.of last year. My TU FICO was in the 770s and fell to the 750s when this account was removed. The account still shows on EQ and EX.
Message 8 of 10
Community Leader
Super Contributor

Re: Old positive TL's disappearing off TU early

I'd pursue any means you can to get it added back, given how much older it is.  You don't have a legal right to get it added back, however, so make the CRA and/or creditor reps your allies rather than opponents.

 

Sorry to hear this has happened.  It goes to show why it can be a good idea to keep your oldest card open, even if you don't use it much.  Best of luck....

Message 9 of 10
Moderator

Re: Old positive TL's disappearing off TU early

I've had this happen more than once; it's why I'm so often parroting that it's not guaranteed for closed accounts to report for 10 years, just that they "might".  Often my warning becomes lost in the noise, but occasionally someone hears it.  Smiley Indifferent

 

Also, for closed/terminated AUs my own experience has been mixed as well; sometimes they linger, sometimes they come off either right away or at some seemingly random point.  YMMV.

Message 10 of 10