cancel
Showing results for 
Search instead for 
Did you mean: 

Very Old Student Loans on CRs

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Established Contributor

Very Old Student Loans on CRs

Hello All!

I have very old positive student loans reporting. Some of which date back to 2003. I have at least 9. All are consolidated into one, all federal. If my goal is to eventually have a "thin" file after clean up and they're still on, should I leave them? Or ask for exclusion?

Thanks!




Message 1 of 11
10 REPLIES 10
Established Contributor

Re: Very Old Student Loans on CRs


@OMW2_HighAcheiver wrote:
Hello All!

I have very old positive student loans reporting. Some of which date back to 2003. I have at least 9. All are consolidated into one, all federal. If my goal is to eventually have a "thin" file after clean up and they're still on, should I leave them? Or ask for exclusion?

Thanks!

If they are all positive, why would you want them off? They do nothing but help if they're positive

Message 2 of 11
Established Contributor

Re: Very Old Student Loans on CRs

I know they help. So, help me understand what a thin file consists of. I thought it was no inqs, and the look of very few tradelines?




Message 3 of 11
Valued Contributor

Re: Very Old Student Loans on CRs

A thin file would basically mean you have 0 credit. Whenever someone has absolutely nothing on their report or they just started building credit. Their file is considered thin.
NFCU Flagship: 15K
NFCU Amex: 7.5K
BOA Cash Rewards: 500
Affinity Plus CU Premier: 7.5k
Message 4 of 11
Established Contributor

Re: Very Old Student Loans on CRs


@OMW2_HighAcheiver wrote:
I know they help. So, help me understand what a thin file consists of. I thought it was no inqs, and the look of very few tradelines?

You've pretty much nailed it there. But getting rid of a student loan that is reporting nothing but positive info isn't going to do anything but be counterproductive.

 

Others here can correct me if I'm wrong, but credit reports aren't like supermodels, no one has ever said that a report isn't thin enough.

Message 5 of 11
Valued Contributor

Re: Very Old Student Loans on CRs

The other posters here are correct - a "thin" file isn't really something to shoot for.  Any positive account should be enjoyed on your report for as long as it lasts.  A thin file basically means you have very limited credit, and its harder to obtain good scores and additional credit if you need it, with just one or two accounts and limited history.

Message 6 of 11
Community Leader
Super Contributor

Re: Very Old Student Loans on CRs

Don't try and take them off your reports. let me give you an example....(me)

my school loans are 15 yrs old=AHOA (15yrs)

Take that away......my next oldest acct is yrs=AHOA (8yrs)

you want a long AHOA...not a short one, and it HELPS your profile, doesn't hurt it. Leave them be, or you'll really regret it.

My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 7 of 11
Established Contributor

Re: Very Old Student Loans on CRs

Even my bad student loans that had late payments ended up hurting my TU score significantly when I got them deleted bc of exactly what you're talking about.
Message 8 of 11
Established Contributor

Re: Very Old Student Loans on CRs

Thanks Pizza & Hokies!




Message 9 of 11
Super Contributor

Re: Very Old Student Loans on CRs

Yes what others said, postive student loans paid and closed on your reports are helping out a lot if you have a thin file. A few of my old, closed out in 2004 consolidated Wells Fargo loans fell off and my AAOA dropped more than the aftermath of opening 10 cards.
Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.