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Thick File vs Thin File

Rebuild2022
Super Contributor

Thick File vs Thin File

What is considered as Thick File and what is considered as Thin File. Is it age or number or cards what determines the Thick vs Thin files ?

Gardening since 08/2020
8 REPLIES 8
Dumbee
Established Contributor

Re: Thick File vs Thin File

I feel like that's subjective, and many people here would have different answers to that.

 

There's been many posts of the same topic : https://www.google.com/search?q=myfico+thick+vs+thin&ie=UTF-8&oe=UTF-8&hl=en-us&client=safari 


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Message 2 of 9
pizza1
Community Leader
Super Contributor

Re: Thick File vs Thin File

I believe when we are talking about thick vs thin files we are talking about AHOA/AAOA and diversity in accounts. But again, thats still very subjective.

Someone who has a few CC's, a mortgage, and a few paid off loans with an AAOH of 20+ years would be considered having a thick file or well established with many years of payment history, vs someone who has 10 cc's and a car loan with the AAOA/AHOA of 4 years.

Every time you add a new account, be it a CC or a loan, the new account factors into your AAOA/AHOA, and will drop it some.


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 3 of 9
Citylights18
Established Contributor

Re: Thick File vs Thin File

Thin file is 3 accounts or less w/ under 3 years AoA.

 

Thick file is 20+ accounts over 3 years AoA.

 

As you can see there is a lot of range in between.

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Message 4 of 9
Rebuild2022
Super Contributor

Re: Thick File vs Thin File

I really do not know what is my file status. My oldest account was 25 years old. I had over 53 accounts that are closed. Some of the closed accounts were with good payment history and many collections and COs on the file. Except for 3 old accounts every thing else is closed. I have string of new accounts, I beleive about 11 or so new accounts ( some of are secured and some are unsecured)  that are less than 1 year old with ontime payment and slowly aging.   My scores are around 600 now. I am not sure due to new accounts my file is considered as thin or due to old accounts though they are closed my could be considered as thick file. Either way, I am not going to keep loosing my sleep over this and let the accounts age and see where my scores stand in the next 12 months. Thanks to all of you for your help, advice and guidance.

Gardening since 08/2020
Message 5 of 9
AverageJoesCredit
Community Leader
Mega Contributor

Re: Thick File vs Thin File

Thick or thin, a lender will look at the substance  of your current file.  Payment history, most recent baddies, income, dti, to some extent score, just alot of factors.  I wouldnt think of my profile in terms of thickness as you can see its subjective, think of your profile as is it good enough to meet the current criteria for whatever you are applying  for. Just my 2 centsSmiley Wink

NN7! Fico math 1 HP = 20 CG LIEr Club Plankowner
Message 6 of 9
Rebuild2022
Super Contributor

Re: Thick File vs Thin File


@AverageJoesCredit wrote:

Thick or thin, a lender will look at the substance  of your current file.  Payment history, most recent baddies, income, dti, to some extent score, just alot of factors.  I wouldnt think of my profile in terms of thickness as you can see its subjective, think of your profile as is it good enough to meet the current criteria for whatever you are applying  for. Just my 2 centsSmiley Wink


Thanks AJC. I am going to take one day at a time. Right now I am going let the new accounts age. I can not change the past but, I am working on clearing old COs/CAs and clean up the report which might take 8-12 months to completely clear. I have 2 good secured cards from US Bank and 2 secured cards from CUs which might graduate. I am going to live in the means and see what future brings.

Gardening since 08/2020
Message 7 of 9
AverageJoesCredit
Community Leader
Mega Contributor

Re: Thick File vs Thin File


@Rebuild2022 wrote:

@AverageJoesCredit wrote:

Thick or thin, a lender will look at the substance  of your current file.  Payment history, most recent baddies, income, dti, to some extent score, just alot of factors.  I wouldnt think of my profile in terms of thickness as you can see its subjective, think of your profile as is it good enough to meet the current criteria for whatever you are applying  for. Just my 2 centsSmiley Wink


Thanks AJC. I am going to take one day at a time. Right now I am going let the new accounts age. I can not change the past but, I am working on clearing old COs/CAs and clean up the report which might take 8-12 months to completely clear. I have 2 good secured cards from US Bank and 2 secured cards from CUs which might graduate. I am going to live in the means and see what future brings.


I hear ya. Im taking one day at a time. I want to protect what ive built up for as long as possible. If the day comes i need to start anew, there's comfort in knowing i have a great resource like #TeamMyFico to help guide  the waySmiley Happy. Stay  safeSmiley Happy

NN7! Fico math 1 HP = 20 CG LIEr Club Plankowner
Message 8 of 9
M_Smart007
Epic Contributor

Re: Thick File vs Thin File


@AverageJoesCredit wrote:

Thick or thin, a lender will look at the substance  of your current file.  Payment history, most recent baddies, income, dti, to some extent score, just alot of factors.  I wouldnt think of my profile in terms of thickness as you can see its subjective, think of your profile as is it good enough to meet the current criteria for whatever you are applying  for. Just my 2 centsSmiley Wink


Worth at least;

Message 9 of 9
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