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Life2live

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what can I do if 30+ years of credit has dropped off my Credit report?
Credit reports show only 9 yrs of credit? I've had my home for 13 and have had credit accounts for over 30 years. This is effecting my score, what can I do?

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Whats considered your Viewable Report

Activity over the last 7 - 10 years on most lenders and 10 years on bankruptcy, A life time on government and judicial action and unpaid student loans. This is the history your scores are based on.

If you don't use credit cards or buy things on credit then very little gets reported. This brings down your score because your credit activity is not the kind that generates income for lenders.  The higher your score is means that you know how to manage your credit and more likely your are to pay your debts. It also means more of a chance to make money off of you. 

If you want to "Rejuvenate" your score, kick start it by paying off older  credit cards to Zero. Then "Retire" that card.  Keep that account open in case of an emergency. Semi-retire a card by putting a recurring monthly charge on the card and then put it away and no longer use it.   Replace the card with a new 0% credit card account. When the that special rate expires retire that card and so on.  Thats how you can build credit and keep the cost low.

Unfortunately,  the Financial system doesn't always reward those that use a minimum of credit and don't vary from using cash and minimizing debt. I believe credit is a necessary evil in the modern world.  We need to learn to manage it so we don't become the victims of it.

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