because file became too large, EQ deleted my four oldest closed accounts, all positive... plus 70 softs. I went from 20 year credit history to 7 years and lost 36 points to 656 FICO overnight. By bumping off my three hards I gained 8 points for a net loss of 28 points! Be careful if you have several older closed accounts, EQ will screw you if pull your report too often. mark
I was told by EQ that if the DOLA is more than ten years they do not have to report the account even if it's a positive account.... is this accurate? mark
There's no written law on it, that I'm aware of, BUT now that you mention it whenever I close an account it reports on EXP that "this account will remain untiil 10/2012" So 10 years is all they "have" to report it for? Going the CRA's logic (I know they don't have any, but go along with me here). If say I closed ALL account the same month and didn't apply for anything for 10 years I'd have no credit file? At least on EXP I may not. So then the avg credit history would be 5 years old? Catch what I'm saying?
It is the policy to delete closed accts after 10 years from DOLA. This is going to have a huge effect on me eventually. TU deleted all tradelines and left 4 CA accts. I demanded that they reinsert the good trades and they have refused. I opened 3 accts in recent months, so as far as TU is concerned, my credit history is 4 months old. Great. With both EX and EQ, I have 1 acct each that is 9 years old. I know that I will lose the mortgage tradeline in 2003. However, on EX I have a USAA mastercard that is listed as open/inactive. Since it is open, the CRA won't delete and that acct is 20 years old. Too bad USAA didn't report to all CRAs.
Re: Bumpage cost me EQ 28 points... It's beginning to look like, to me, that bumpage creates some problems (or grief) that is hardly worth the benefits. I too have some old accounts that I do NOT want to loose. Until I get more info, I am gonna de-bump. Hey, is that a new term for the glossary? ;-)
Re: Bumpage cost me EQ 28 points... When I pull reports everday the number of enquiries remain at 130 deleting oldest equifax soft ones. In a way it is good that my file is not increasing, is that correct? Is there any way I can find if my is getting bigger. Just waiting to delete 3 more hard ones which may take another 1 month.
Re: Bumpage cost me EQ 28 points... your TL's don't get bumped from bumpage, but from age. What were the dates of the TL's?? Like someone said before, if they are 10 yrs old, the CRA will delete the closed accounts in good standing. I have a few that have dropped off too, and in a couple of years, I'll have a few more drop off. I'll have a short history then as all my open accounts are 2 yrs old, or less. This isn't caused by bumpage though, only by time and the stupid CRA's.
Re: Bumpage cost me EQ 28 points... Tracy, In one respect older tradelines disappearing CAN be related to bumpage. If the file gets too big because of bumpage related soft inqs and EQ is looking for a way to reduce its size they can: a. Remove the 10+ year old positive tradelines because they aren't required to keep them. b. Split the file and put a the older tradelines and whatever else they want to in the "other" file. DemPooches
