Charge off falling off in December - what to expect score wise

[nmbrsgrl]

This First Premier account is a thorn in my side. It is very old, small balance account showing 144% utilization, 30-day late, 60-day late, 90 and a 120-day late. ugh. What effect do you think it will have on my credit scores? Any educated guesses?

[CreditDunce]

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@nmbrsgrl wrote:

This First Premier account is a thorn in my side. It is very old, small balance account showing 144% utilization, 30-day late, 60-day late, 90 and a 120-day late. ugh. What effect do you think it will have on my credit scores? Any educated guesses?

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I can't offer any guesses, but if it is your last derog on your CR, you should see a nice bump. The usual caveats apply about it may reduce your AAoA when the baddy falls off.   If it is your oldest account, you might not get as much of a bump as normal.  Still I would expect it the net effect to be good.

Good luck, let's hope you see a nice increase.

[RobertEG]

The OC account itself wont become excluded based on expiration of any derogs reported thereunder.

Unless the OC chooses to delete the entire account, there will be no effect on AAoA.

Exclusion of a major derog, if it is your only reported major derog, should be substantiall.

However, if other majpr derogs remain, the effect most likely wont be that significant.