AAoA vs. Charge-off

[Anonymous]

This question may have been asked before. And I apologize to anyone who has already seen a post of this kind.

May have the possibilty of getting a BOA charge-off removed that is reporting as  a zero balance. This is my oldest account and my only Derog. I have had this account since 2009 so my AAoA is at 4 years. My other accounts are fairly new including a  1year CC acct, 8 mth CC acct, 2mth CC acct.

Would deleting this tradeline help or hurt me?? 

[madmann26]

It is factored into your AAoA. Deleting it may be beneficial but your score could take a hit initially.

[Anonymous]

Hmmmmm. Well put it this way I plan on apping for a pre-approval for mortgage afterwards. I was hoping since it was my only derog it would increase my score quite a bit. There was a collection agency reporting the balance of 1080 and they told me today they were deleting the tradelines. Between the two hopefully I will see and increase/

[p-]

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@Anonymous wrote:

Hmmmmm. Well put it this way I plan on apping for a pre-approval for mortgage afterwards. I was hoping since it was my only derog it would increase my score quite a bit. There was a collection agency reporting the balance of 1080 and they told me today they were deleting the tradelines. Between the two hopefully I will see and increase/

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IMHO it's better to have young, perfect credit than established, bad.  Removing a negative account will likely help you.

[Anonymous]

Thanks P. That does makes sense to me, i would risk young perfect over aged bad credit as well. Like the journal log by the way.

[pizzadude]

I concur ~ I'd rather have a clean report than a slightly bigger AAoA.   May or may not hurt your score ~ really no way to predict, since you'll likely be moved into a cleaner FICO scoring bucket.

[Shogun]

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@pizzadude wrote:

I concur ~ I'd rather have a clean report than a slightly bigger AAoA.   May or may not hurt your score ~ really no way to predict, since you'll likely be moved into a cleaner FICO scoring bucket.

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I love this answer!

[p-]

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@Anonymous wrote:

Thanks P. That does makes sense to me, i would risk young perfect over aged bad credit as well. Like the journal log by the way.

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Thx - I'm counting the days until my last baddie ages off, congrats on your progress.