@nupey10 wrote:Hey All
First this site is GOLD!! Thanks to all of you!
3 years as of March scores have climbed from mid 500s to FICO 8 711, 721, 723 ( efax, tu, ex)
15 yr old closed CC 10K CL with 3.9k balance - only (2) 30 day lates on it dating back to Jan'13 and Dec'12. Half will be payed by end of April. Could completly pay it off by end of Oct'17. My question is should I pay it off or should I get it to 2K or below and hang on to it for another couple of yrs? Worried AAoA will suffer, but revolving util is at 39% which isn't good. What is pressing/stressing me is that I will need to probably get a loan for 50k to remove a home lien next year and I want to make sure my score is as high as possible to get the loan.
Short and sweet
AAoA - 9.8 yrs I have one other 15 yr old closed account that has always been in good standing set to auto purge 2018 - 2 accounts that are less than 3yrs old
Besides the 2 lates from above I have 3 paid medical collections. All 3 show up on efax only 1 is on EX ( going to try goodwill ltr )
Citi ( $500 cl) and AMEX($500cl) in great standing
Here's what Fico says about me and my score 8 ingredients:
Payment history - Very Good - 1 acct showing 30+ day late
Length of Cr hist - Exceptional - AAoA 118 months
Credit Mix - Very Good
Amount of Debt - Very Good - utilizing 39% of available ( I question this because it also says this is hurting my score)
Amount of New Crd - Good - Most recently opened account is 2 mths
Overall rating is only good ( hmmm after 3 very goods 1 exceptional and 1 good ???) Risk factor 5%.
Thanks all
Yes pay it off as fast as you can.
It won't drop off of your report for average age of accounts purposes and oldest account purposes until around 10 years after account was closed.
