New item on CR

Discussion in 'Credit Talk' started by Vallian, Aug 2, 2007.

  1. Vallian

    Vallian Member

    Transunion just added this to my report as a satisfactory account..
    AMEX
    PO BOX 981537
    EL PASO, TX 79998
    (800) 874-2717
    Balance: $ 12,213
    Date Updated: 03/2007
    High Balance: $ 60,712
    Pay Status: Paid or paying as agreed
    Account Type: Open Account
    Responsibility: Account Relationship Terminated
    Date Opened: 07/1976
    How is this affecting my score? Should I have it removed. It is and old account.
     
  2. init2winit

    init2winit Well-Known Member

    Even 'perfectly positive' accounts only stay on for 10 years after they are closed. When was this account closed?
     
  3. Vallian

    Vallian Member

    Was on this account with partner. I believe account is still open but I was removed from the account in 1995. Confused as to what to do.
     
  4. init2winit

    init2winit Well-Known Member

    I would find out if I were 'properly' removed from the account i.e. released from all liability as of x/1995. Do you have any documents from Amex to support this claim? I believe that is what the 'account relationship terminated notation' means but it cannot hurt to have more proof that you might need.

    Secondly, if you were released from liability of indebtedness, along with cancellation of your charging privileges, they should only report credit history for the time you were on the account.
     
  5. init2winit

    init2winit Well-Known Member

    I would try to retain the account on the CR b/c of its age, but limit the reporting history to the time period I were actually liable for paying the debt.
     
  6. bizwiz41

    bizwiz41 Well-Known Member

    This account should be helping your score significantly! 30+ years of history,wow! It is also a "premium" card, which helps with the FICO score. I would leave it as long as it reports satisfactorily.
     
  7. eastcd

    eastcd New Member

    Ancient thread, but:

    Funny that nobody seemed to notice a BALANCE DUE of 12K, which cannot be good. Looks to me like Amex is looking for trouble (racehorse attorney or even Class Action).
     

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