When is a file considered mature and thick?

[FreedomHammer]

TransUnion has one charge off; totally clean by next month. 

Experian will be clean by September, Equifax by November-ish. Both have multiple charge offs and unpaid collections. Removal of those derogs should help? But what about losing length of credit history when they are removed? 

I'm concerned that even though I've had my student loans with perfect payment history (1999 oldest), my revolving history has a gap, due to a family member ruining my credit. The gap is from 2014. So I have established student loan installments, all closed and paid -- but not much revolving experience. 

[FreedomHammer]

What is considered a non-trivial negative?

[Anonymous]

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@FreedomHammer wrote:

TransUnion has one charge off; totally clean by next month. 

Experian will be clean by September, Equifax by November-ish. Both have multiple charge offs and unpaid collections. Removal of those derogs should help? But what about losing length of credit history when they are removed? 

I'm concerned that even though I've had my student loans with perfect payment history (1999 oldest), my revolving history has a gap, due to a family member ruining my credit. The gap is from 2014. So I have established student loan installments, all closed and paid -- but not much revolving experience. 

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@FreedomHammer A non-trivial negative would be a 60 day late or worse. unfortunately the age of your oldest Revolving Account is a important Scoring Metric. From what you're saying, you do not have any old revolving accounts, except for the chargeoffs?

If so, when they are all removed it will cause reassignment and yes your score will be lower than it would have been had you had an old revolver, nevertheless you will be mature because of your old loans and thick because of your old loans.

[Slabenstein]

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@FreedomHammer wrote:

TransUnion has one charge off; totally clean by next month. 

Experian will be clean by September, Equifax by November-ish. Both have multiple charge offs and unpaid collections. Removal of those derogs should help? But what about losing length of credit history when they are removed? 

I'm concerned that even though I've had my student loans with perfect payment history (1999 oldest), my revolving history has a gap, due to a family member ruining my credit. The gap is from 2014. So I have established student loan installments, all closed and paid -- but not much revolving experience. 

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Going from collections and chargeoffs reporting to a completely clean profile will gain you far more points than you'd lose from any changes to your aging metrics.

[Anonymous]

Collections and public records do not affect aging Metrics but chargeoffs do. Public records are not considered tradelines except for the payment history category.

[FreedomHammer]

How do removed charged off accounts  affect aging metrics? Loss or gain of my score?

[Slabenstein]

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@FreedomHammer wrote:

How do removed charged off accounts  affect aging metrics? Loss or gain of my score?

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Charge offs have account ages like other tradelines, and those ages are part of your aging metrics like any others: their ages are included in AAoA, etc. When a charge off is removed, its contribution to aging metrics is also removed.  What specific effects it would have would depend on the age of the charge off and the ages of your other accounts.  However, you should gain score when all charge offs have fallen off of a report because the score loss from having CO's is so much more than whatever they might be doing for your account ages.

[Anonymous]

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@Slabenstein wrote:

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@FreedomHammer wrote:

How do removed charged off accounts  affect aging metrics? Loss or gain of my score?

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Charge offs have account ages like other tradelines, and those ages are part of your aging metrics like any others: their ages are included in AAoA, etc. When a charge off is removed, its contribution to aging metrics is also removed.  However, you should gain score when all charge offs have fallen off of a report because the score loss from having CO's is so much more than whatever they might be doing for your account ages.

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@FreedomHammer that is correct, although there are very rare situations where it could cause a loss. For instance, if the chargeoff was a 20 year old revolver and you had no other revolvers near that age, it would be possible to see a loss, but that is a rare profile situation. It occurs because age of oldest revolving account metric is such a valuable metric.

[Irv02]

@Slabenstein Thanks for that response.   That same situation had me confused too.

[FreedomHammer]

I do not have any old revolvers that are not charge offs. My oldest revolver was opened in Feb 2020, card #2 opened November 2020, and third card opened last month. Those are my only revolvers. And tons of closed student loans, as I mentioned.