Five years post BK7 (Filed 5/16, Disch 9/16)
Average Age of Open Accounts 4.7 years
Average Age of Accounts: 9 Years 1 Month
Age of Oldest Account: 32 years 10 Months
5 revolving
1 Mortgage
1 CLOC
1 PR (BK7)
1 Derogatory Account (Debt included in or discharged through Bankruptcy Chapter 7, 11, or 12)
No lates/CO/CA/etc.
Score EX8 9-25-21: 700
I paid off my Auto Loan in August and it reported today on Experian. The point change was -1. While I have a new inquiry showing (within 12 months of another, so not likely to have effected my score) and account (Chase/Amazon, which has not reported yet) I believe the DP is useful.
Scoring Factors for the 700
+
Low Revolving Credit Usage
Long Credit History
Bills Paid On Time Recently
-
Negative Items
Loan Balances
Let me know if/what more info from my profile will improve the usefulness of the DP.
@Have1 wrote:Five years post BK7 (Filed 5/16, Disch 9/16)
Average Age of Open Accounts 4.7 yearsAverage Age of Accounts: 9 Years 1 Month
Age of Oldest Account: 32 years 10 Months
5 revolving
1 Mortgage
1 CLOC
1 PR (BK7)
1 Derogatory Account (Debt included in or discharged through Bankruptcy Chapter 7, 11, or 12)
No lates/CO/CA/etc.Score EX8 9-25-21: 700
I paid off my Auto Loan in August and it reported today on Experian. The point change was -1. While I have a new inquiry showing (within 12 months of another, so not likely to have effected my score) and account (Chase/Amazon, which has not reported yet) I believe the DP is useful.
Scoring Factors for the 700
+
Low Revolving Credit Usage
Long Credit History
Bills Paid On Time Recently
-
Negative Items
Loan Balances
Let me know if/what more info from my profile will improve the usefulness of the DP.
Probably because you still have 2 installment loans per say. The aggregate util % on all 3 then to 2 loans didnt move the needle much. Now if the only loan was your auto loan and PIF. Then it would be a whole lot more.
@FireMedic1 and @HeavenOhio ,
The checking line of credit lists in the revolving accounts on my reports. It is for $1000 and I haven't ever utilized it so it shows high balance $0. It replaced the one the bank reflexively closed when I declared CH7 and I was too overwhelmed at the time to try and get them to reinstate it immediately preserving the positive payment history and age. They gave me the replacement without batting an eye about nine months later when I got around to asking for it. sigh.
Thank you for the feedback. I'm trying to soak up as much information as I can about scoring. I find it all very interesting, like solving a puzzle.
@Have1 @HeavenOhio Ah ok. Was under the impression the CLOC was looked at as a loan thing for emergencies when you come up short. I wanted to give some type of answer since it sat for 3 days without a responce. Anyway. If the 2 loans aggregate util % were say for example at 51% and it went to 50% once the auto loan was PIF. That would explain the 1 point. (Considering the entire credit profile) Thanks.