lumburg

20 point drop in score by removing a C/O

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Hey everyone, I know that by losing the history of an account that my score would drop by 20 points almost, geez! :( Anyway, I know it's a temporary dip, any guess as to how long until I see the positives from getting this C/O off my CR? The account was open for about 7 years so it's not that long os a history. OK, rant over!

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so the removal of a c/o will drop my score even more?... wow... i didn't think it could get lower... is it even worth it to send a gw letter?

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hehheheheheh, seven years is a long time. Losing that account decreased the average age of your accounts. Only salvation last forever. It will bounce back. Be happy. Do a happy dance. The eye sore is gone. The I am not worthy stamp is gone. 8-) 8-) 8-)

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ladybiker...

as i understand it, you send a gw letter, at least that is what i'm in process of doing... and send it to the ceo of company... hmmm... i hope i got that right

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so the removal of a c/o will drop my score even more?... wow... i didn't think it could get lower... is it even worth it to send a gw letter?

Only if it is very old and the other accounts you have are not very old. Your score will rebound once that Co is gone. Plus it is better to have a low score without tarnishes than a average score with booboos JMHO

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so should i be sending the letters out to the ca's that i just paid... and sending a dv to the 2 remaining debts i have no knowledge about?... or leave the paid collections alone?

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you lost your points because of the lost history....Chilton is right on, your scores will rebound soon enough. Just continue to maintain good payment history w/o lates

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oh yeah... and what's your definition of old?... the oldest account in my cr is about 5-6 yrs old... and the c/o occurred about 2-3 yrs ago

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the oldest account in my cr is about 5-6 yrs old

So basically you removed the oldest account in your file, you went from 7-8 year credit history down to a 5-6 year credit file. Pay your current accounts on time and if they have perfect history, your score will rise.

IF u dont have many derogs on your report, you may have been moved up to a different/higher scoring bucket.

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no.. i'm pretty sure that the oldest account was about 6 yrs old... and i don't have any open accounts at current time... i thought that if i canceled and paid off everything, that it would help... silly me... i can't even get a $300 cl now... so i can't boost my score any... or is there any other way?

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So basically you removed the oldest account in your file, you went from 7-8 year credit history down to a 5-6 year credit file. Pay your current accounts on time and if they have perfect history, your score will rise.

IF u dont have many derogs on your report, you may have been moved up to a different/higher scoring bucket.

My apologies for not being more clear but I was just in rant mode. My oldest account is about 11 years so this account was up there. I have disputed this one several times for the folks who want to know and nothing happened. I logged in last week, disputed it on line and low andbehold, it just dropped off. I've been trying for over a year on this one and I simply did a online dispute and poof.

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no.. i'm pretty sure that the oldest account was about 6 yrs old... and i don't have any open accounts at current time... i thought that if i canceled and paid off everything, that it would help... silly me... i can't even get a $300 cl now... so i can't boost my score any... or is there any other way?

Try to get a secured card. The accounts that you paid off and closed were they in good status? If they were, you may want to call them and ask them to reopen the account. It does not hurt to try.

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Plus it is better to have a low score without tarnishes than a average score with booboos JMHO

Yup, yup! You'll have better luck getting approved for something with a score 20 pts lower and no booboos than 20 pts higher and a CO. COs indicate someone trusted you and got screwed... lol.

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chase and capitol one were both closed in good standing.... chase has the better payment history... should i try both or one at a time?...

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update....

chase and capitol one both said that the records were purged from the files... so i would have to re-apply... having been denied previously by capitol one, i tried a re-apply to chase... better history... they said it takes 10 days for decision... fingers crossed

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so the removal of a c/o will drop my score even more?... wow... i didn't think it could get lower... is it even worth it to send a gw letter?

My scores went -34 to +24 (depending on CRA) when I had my last CO removed. FWIW.

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Lost points due to age.Pay current accounts on time and your score will continue to climb with age.:mrgreen:

that's the problem... i can't even get a store card right now... and i have no active accounts... lol... so i have no way to fix/build up credit... grrrr ::thunderously::

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yep...secured card(s) probably the best place to begin...the bank of amer card is probably one of the better one's...have to send in a personal check if don't have an account with them...don't let them tell you that you can't open without a checking/savings with them...I did and there's not one branch here in my state...also could try "piggybacking" before they change the rules...good luck

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piggybacking?... what's that?

Piggy backing is adding yourself as a authorized user to a friend or family member with great credit.Fico is already tweaking formulas to exclude this so I think your best bet to start will be secured cards.

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