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Should I leave this alone? Experian question


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I have a Capital one on my EX report that was open in 1996. It is a good trade line closed with a 0 balance. EX says it will stay on my report until 2013. How can this be? Should I just let it go? Or call them on it? Thanks...Liz

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Good Lord, Lizzy ! That's an old AND positive TL ! Let it be !

From the roll-off date, I would say Cap1 has left the TL on their tape and continues to report it monthly. Cross your fingers and hope they keep doing it !

That thing could be on there who knows how long and that's what you want. DW and I still have closed Amex, Discover, and other TLs on our report from 22 years ago and having a long credit history is always among our top FICO scoring factors.

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Hey croft, sorry hijack thread, but while on the subject just had to ask. One of the stated reasons why my fico is low is my length of credit history. It says something about 5 years being better. Thing is I have 6 old paid closed accounts from auto loans to installments to cc's. Wonder why it says I don't have anymore than 3 years of history. My oldest open account will be 1 yr in october. Think thats considered not having older history, that its all closed with no activity for the past few years?

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Nooooo, it should be going by the opening date of the oldest account, AFAIK !

For instance, I have a closed (positive) Amex account (closed in '86) that was opened 9/81 and it always gives me a top positive score factor of lenghty credit history saying I have a 21 year and 10 month old credit history.

You might want to check that it actually shows an accurate opening date on your older accounts.

If nothing conclusive there, count back from the score report date however long they say your history is and see if you can peg your "anchor" account opening date which sets your credit history age. If you locate that, then compare the accounts that you thought should be older and double check their opening dates.

I hope that reveals something for you. Otherwise it's not quite making sense to me ! I don't think it distinguishes but is it possible it's only looking at you oldest revolving account ? I doubt it, though, as our Amex account was an "open account", not revolving.

???

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