Let's say your oldest account is 20 years old. Next oldest account is 9 years old. Let's say the credit file is not thick (adequate, but not thick). Active accounts include 4 credit cards - one less than a year old, one less than 2 years old, one 5 years old, and one 9 years old, an auto loan, tires loan, and 2 (unfortunately) Affirm loans...I didn't know until recently that they're bad for your credit. That's all that's currently open. Auto loan and tires loan still considered new.
In general, you want to be on a clean score card. Any derogatory or delinquency will suppress your scores.
I would recommend reading the below from Birdman7
Wow. Thanks much for the info. Quick follow-up. What does segmentation factor really mean in this context?
Oh, I got that part when it said oldest account was not a factor. Just wondered about what the rest meant then as far as what it is used for then and why sites, even MyFICO, make it look like it's a factor..
In general, it means get rid of the foreclosure account (if possible).
I would agree on getting rid of the foreclosure, even if that means getting rid of the account as a whole.