What Determins Length of Credit History?

[Anonymous]

My oldest credit account (student loan showing "Paid Collection Acct.") is from 1999 and should have fallen off of my credit report by now.  I'm about to despute it since it is a negative mark on my credit, however, I have a big gap in credit history after that.  My only other accounts, (mortgage, auto loan, credit cards) are all in good standing but only a couple of years old.  Does having this old student loan account on record benefit the length of my credit history in any way even though it's negative?  Or, do the bureaus see/know the length of my credit history even if I don't show visible account records on file?

Many thanks,

Fig

[Anonymous]

That is a tough call-

Where are your scores now?

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Fig wrote:

My oldest credit account (student loan showing "Paid Collection Acct.") is from 1999 and should have fallen off of my credit report by now.  I'm about to despute it since it is a negative mark on my credit, however, I have a big gap in credit history after that.  My only other accounts, (mortgage, auto loan, credit cards) are all in good standing but only a couple of years old.  Does having this old student loan account on record benefit the length of my credit history in any way even though it's negative?  Or, do the bureaus see/know the length of my credit history even if I don't show visible account records on file?

Many thanks,

Fig

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[cobra19]

Fig...........good question. Personally (and others may disagree) I would try to get rid of that "paid collection acct". A baddie is a baddie. IMHO opinion, a baddie never helps. Even if removing it would lower my history - I'd never want a baddie, irregardless of it's age.

You have installment and revolving accounts. Get a gas card or two, and a store card or two - and let everything age.

[fused]

Since this student loan is a paid collection it does not factor in credit history length or average-age of accounts. Collections and public records never factor in either of these. If this paid collection dates back to 1999, you should dispute it as obsolete. This is too old to be on your reports. Your credit history length would be as long as your oldest TL that is not a collection.

[Anonymous]

They are 629, 633, 639.

[RobertEG]

Fused, I am really curious about your post.  My oldest account was opened 23 years ago, and is now closed, but still counts as my oldest TL..  Are  you saying that if it had gone into collection, it would somehow have been erased as my oldest TL?  My understanding is that status of oldest TL as either open or closed does not change its status as the date of oldest TL.  However, does movement of such a TL into collection erase it as your oldest?  And does it also remove it from your average account calculation?  I had never heard this before, and am just curious....

[Anonymous]

Yep dispute too old to report.

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Fig wrote:

They are 629, 633, 639.

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