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I've gotten into credit deep via this forum... So now I'm helping a buddy who thinks his credit is pretty much permanently crap. He's had a couple debt settlements (auto loan and a credit card). Currently he has only 2 open accounts, a mortgage and an AU on one of my cards (we live together, so he pays bills on my cards after paying me, so I earn that sweet cashback and helps his score).
He grabbed Credit Karma and his ol' fako scores are good on TU, 750. Adding him as an AU leaped him 61 points on TU (mix credit my guess, uti 2%). His EQ... not so much, around 670. Taking a look through, EQ is showing 5 closed accounts, 4 of which are over 10 years old. I'm sure removing these would boost his EQ to match his TU levels.
What would be the best way to go about getting these removed? TU already dropped them, I thought they should auto-drop after 7 or 10 years, but one of them is FIFTEEN years old. I have no idea about EX... Don't have a way to see either fako or FICO for EX for him.
First off ignore CK scores. Get the real FICO scores. Secondly. You want the old accounts to stay on reports as long as possible. That helps credit, not drop it. There is no boost on having old reports fall off. You want them. So are the judgements paid off? That helps better than owed. You could ask for PFD if they're paid.
@Anonymous wrote:I've gotten into credit deep via this forum... So now I'm helping a buddy who thinks his credit is pretty much permanently crap. He's had a couple debt settlements (auto loan and a credit card). Currently he has only 2 open accounts, a mortgage and an AU on one of my cards (we live together, so he pays bills on my cards after paying me, so I earn that sweet cashback and helps his score).
He grabbed Credit Karma and his ol' fako scores are good on TU, 750. Adding him as an AU leaped him 61 points on TU (mix credit my guess, uti 2%). His EQ... not so much, around 670. Taking a look through, EQ is showing 5 closed accounts, 4 of which are over 10 years old. I'm sure removing these would boost his EQ to match his TU levels.
What would be the best way to go about getting these removed? TU already dropped them, I thought they should auto-drop after 7 or 10 years, but one of them is FIFTEEN years old. I have no idea about EX... Don't have a way to see either fako or FICO for EX for him.
My first post was due to this line. I saw the 2 paid judgements. Thought you were wanting to get them all deleted. Yes for the judgements. No for the good accounts is what I meant.
Like the poster said above. Discover Scorecard is free for anyone. Dont have to be a customer. If there past 7 yrs 180days. Dispute them as too old for reporting online. Dont have to call really. Online by disputing online. Dont have to talk to anyone. Good Luck!