orchard

[Anonymous]

i got an orchard card two months ago. I closed it within 2 weeks after I got it because I got better lines of credit with other companies.

My equifax score in the fakos was stuck at 609 for nearly two months eventhough I had two derogs removed and on time payments to other cards.

Now, this orchard bank card shows up on my report and my fako drops by 22 pts!! However, it is reported "Closed/Paid" though. I was really hoping that this never shows up on my report.

How is this even possible? Shouldn't my score rise if i get 2 derogs completely removed?

How bad would this "Paid/Closed" Orchard card hurt my score? and for how long?

(i know they are my fakos but still, that's a huggee drop for me - I'll get myficos in a couple of weeks or so)

[MidnightVoice]

Sounds like you were dinged because of a combination of inqs, new credit, short average age of accounts.

How old were the derogs and how bad?

[Anonymous]

those two derogs have a date of last activity of 3/2005.

I only have one inq on EQ, which is hitting 2 yr mark in Nov.

I do, however, have WaMu and Hooters appear on my report, but they have been there for over a month now. Should't i get dinged right when they appear?

Only open items on my reports are SLs and Cap1, which are both a little over 5 yr old.

[MidnightVoice]

The closed TLs also contribute to age

[Anonymous]

grrreeatttt....(not really but you know)

[Anonymous]

Midnightvoice...I thought closed credit cards only still counted for age if they listed a balance due. Closed accounts with $0 balances no longer count do they? I have a couple cards I want to cancel if I can keep the age.

[MidnightVoice]

Closed accounts do count towards average age of accounts.

MyFICO keeps saying they get older after closing, my actuall CRs suggest they stay the age at which they were closed.