Deleting old credit lines with negatives..

[jons998877]

I recently requested EE on a closed Target card that was 12 years old and have several negatives from 2011 and 2012.. TU deleted it, but my score dropped from 625 to 623..  Is that just the nature of the beast and would have dropped off anyway?

[RobertEG]

Derogs reported on the account are subject to the exclusion provisions of FCRA 605(a), which are 7 years for monthly delinquencies, and 7 years plus 180 days from DOFD for charge-offs and collection derogs.

Accounts per se are normally removed under CRA discretionary policy at approx 10 years after closing.  The age of the account is not used, but rather the age since closing.

Score drops can routinely occur once an old, closed account is removed by a CRA, as it removes it from your AAoA calculation.

[jons998877]

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@RobertEG wrote:

Derogs reported on the account are subject to the exclusion provisions of FCRA 605(a), which are 7 years for monthly delinquencies, and 7 years plus 180 days from DOFD for charge-offs and collection derogs.

Accounts per se are normally removed under CRA discretionary policy at approx 10 years after closing.  The age of the account is not used, but rather the age since closing.

Score drops can routinely occur once an old, closed account is removed by a CRA, as it removes it from your AAoA calculation.

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So kind of a one step back, two steps foward in the future with it dropping?

[Anonymous]

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@jons998877 wrote:

I recently requested EE on a closed Target card that was 12 years old and have several negatives from 2011 and 2012.. TU deleted it, but my score dropped from 625 to 623.. 

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Where are you getting your TU score from?

Is the Target card closed?  If so, when was it closed?  If it was open after the negatives happened, say until 2016 for example, you'd want the negatives removed but for the account to remain on your CR for another ~7 years until 2026 when it would likely naturally fall off.  Negatives from 2011 should already be gone, as they've passed 7 years.

[jons998877]

TU score is FICO

And yes, Target card was closed back in 2012, and I meant to say the lates were from 2012 and 2013, first one being Sept 2012, my Experian account says should continue on report through August of this yer.. thus the EE from TU and EX...

[Revelate]

If you have a other negatives or limited history then removal of a negative might not be any points at all (or even a drop in the extreme scorecard shift case and limited history).

Any negatives being deleted is a step forward, the score difference in this case isn’t worth worrying about.

[jons998877]

And thats my focus now, worrying about getting as much stuff as possible deleted now that I have added 4 revolving lines added.. thinking more about where my score is in 12 months rather than today, though I do need to buy a car soon as my current Fusion has close to 230K miles on it.. would like scores to be 660 before I finance a car though, but not sure it will last that long

[Anonymous]

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@jons998877 wrote:

TU score is FICO

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Yes, but where are you getting it from and/or what is the scoring model you're referencing?

[jons998877]

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@Anonymous wrote:

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@jons998877 wrote:

TU score is FICO

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Yes, but where are you getting it from and/or what is the scoring model you're referencing?

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Fico 8 from here