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Oldest Account hitting 10 years

Girlzilla88
Valued Contributor

Oldest Account hitting 10 years

So I have read accounts show for 10 years and on two of my CB's I have an old Aaron's account that shows to have my Age of Oldest Account at 7 years 9 months but on Experian it doesn't show that account so my Oldest is 3 years 2 months.    My question is when the TU and EQ hit that 10 year and it falls off my reports !?!?     Or would it still calculate it just not show it anymore?!    I'm a bit confused on that part because I don't want once it hits 10 years to change to the (at that point 6 years) oldest instead of me having an account that is 10 plus years showing to aid my account.   Smiley Sad










16 REPLIES 16
thornback
Senior Contributor

Re: Oldest Account hitting 10 years

Once it drops it will no longer be included in scoring so you will lose that age completely, unfortunately.  

 


@Girlzilla88 wrote:

So I have read accounts show for 10 years 


^^ Closed* accounts. 

I think that's what you meant but want to clarify just in case-- the 10 year drop off doesn't apply to open accounts.

 

And it's 10 years from the date of closure-  not the account open date. 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 2 of 17
Girlzilla88
Valued Contributor

Re: Oldest Account hitting 10 years

@thornback       Yes I believe it is closed it's an old account from where I bought a Laptop from Aaron's but I can double check one second.     yes it says CLOSED :'(      So when it hits 10 years it will fall off?!










Message 3 of 17
thornback
Senior Contributor

Re: Oldest Account hitting 10 years


@Girlzilla88 wrote:

@thornback       Yes I believe it is closed it's an old account from where I bought a Laptop from Aaron's but I can double check one second.     yes it says CLOSED :'(      So when it hits 10 years it will fall off?!


10 years from the date of closure, yes.  This is really why ppl recommend not closing your oldest account (when avoidable) if there's a large age gap between it and the second oldest.   

 

Sorry!!! 

 

There are a few ppl that get lucky and miss the purge leaving them with closed accounts far past their 10 year drop off mark... you could get lucky (but don't count on it).

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 4 of 17
BrutalBodyShots
Super Contributor

Re: Oldest Account hitting 10 years


@Girlzilla88 wrote:

yes it says CLOSED :'(      So when it hits 10 years it will fall off?!


No, not when it hits 10 years.  Once it's been closed for 10 years.

 

If you opened an account in 2010 and closed it in 2019, that account would not be expected to drop off your report in 2020 once it reaches 10 years of age.  It would likely hang out on your reports until 2029, a decade after closure, meaning at that time you'd lose a 19 year old account. 

 

The only time you'd expect an account to drop off your report at 10 years of age is if you closed it right after opening it... as it would then be closed for 10 years at the time of dropoff.

 

 

Message 5 of 17
Girlzilla88
Valued Contributor

Re: Oldest Account hitting 10 years

@thornback     The funny thing is when I was renting with Aarons they told me they would report my good payments once I paid it off and it would stay on my account they never told me after an amount of time it would come off or I would have shot for a CC way back then so my age would be in a better standing.   Smiley Sad     Oh well.      Thanks at least this way is like a fast rip of the bandaid rather than being blindsided about it.










Message 6 of 17
Girlzilla88
Valued Contributor

Re: Oldest Account hitting 10 years

@BrutalBodyShots     It closed in 2014 :'(  :'(   :'( 










Message 7 of 17
Girlzilla88
Valued Contributor

Re: Oldest Account hitting 10 years

@BrutalBodyShots      It says "Last Updated 3/2014" and under TU it says CLOSED DATE 3/08/2014 but on EQ it doesn't say closed date it just says "not updated" so do you think that may help me?!    LOL LOL LOL 










Message 8 of 17
BrutalBodyShots
Super Contributor

Re: Oldest Account hitting 10 years

You should see it go away around March 2024 then.

 

On EQ if it isn't showing a closure date, has information been updated on the account monthy from 2014 to present? 

Message 9 of 17
thornback
Senior Contributor

Re: Oldest Account hitting 10 years

Well, at least you still have a couple of years before it drops... and now you will be emotionally prepared for that moment...

 


@Girlzilla88 wrote:

 I would have shot for a CC way back then so my age would be in a better standing.  


We all have missed opportunities-  that darn hindsight thing....

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 11/2020: EX 780 ✦ EQ 771 ✦ TU 781
Current FICO 9s | 11/2020: EX 793 ✦ EQ 780 ✦ TU 778
2020 Goal Score | 800s


My AAoA: 3.8 years not incl. AU / 4 years incl. AU
My AoOA: 7.10 years not incl. AU / 9.10 years incl. AU
Inquiries: EX 0/6 | 1/12 ✦ EQ 1/6 | 2/12 ✦ TU 0/6 | 1/12
Report Status: Clean


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 10 of 17
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