Chargeoff Removed but score went down?

[SN1209]

So, I was lucky enough to have my Chrysler Capital account removed from TU, which had been charged off with a $22k balance from a few years ago. It just updated on my report and my score went DOWN 11 points, even though all that negative info was removed. Is this just due to the change in the age of my accounts and an installment loan being removed? I thought that this was going to be a positive event quickly but maybe not?

[Anonymous]

Was your CO reporting and updating every month? From my understanding and what I've learned is, if a CO hasn't reported in a long while, you may lose quite a bit of points. It differs to COs that update every month because it's constantly reporting a balance that factors into your ratio. I recently settled a CO that was reporting every month since 2015 and after it reported the payoff, my scores went up 20 points because it was no longer reporting an active balance.

[Anonymous]

@Anonymous (I like the name by the way) Yes and your scores went up because it was updating every month and therefore there was no catch-up penalty for the total period of delinquency. Therefore you saw reduced utilization and a gain. But, yours was not removed like OPs.

@SN1209 Was this the only derogatory on your file? If it was the only derogatory, you experienced scorecard reassignment. You went to a higher scorecard and that’s why.