I have 4 tradelines to my credit history. All 4 have negative info on EQ & TU--1 long-closed account shows as positive on EX. Of those 4, 2 are paid charge-offs (one that I'm working to have removed because its wrong); 1 has a 30-day late and has been closed since '96; and one account that was 30 days late 12 tmes since '96 but has been paid on time for the last 24 months. The account is not used and was finally paid to a $0 balance in February. I've been waiting for this to post to my report (waiting to see how bad it would hurt to have a $0 balance so I could make some decisions) and while EQ still does not reflect it, today EX shows the whole account vanished and will not issue me a score because there has been no activity in 6 months and there are no open tradelines. ???! A week ago I had a score just fine. I guess what I can't decide is--considering it had a bad past history and a good current history, should I beg FNB to report it again, even if it's reported as closed? Should I let it go? This was my oldest tradeline. How do I know if it hurts me more on than off if I can't even get a darned score? What happens if/when it disappears off of all my reports...am I screwed? (Frankly, I'm surprised the account is closed as they did not notify me. Still, before I call them and ask what is up, I need to decide if this is better or worse!) I'm assuming that lenders still get scores, just not me? EQ -- 654 to 661 depending on day EX--was 661 now NOTHING TU--661
I would just drop it. Those old and closed accounts are pretty much worthless unless you can get the lates removed and raise the closed accounts from the grave. You should concentrate instead on removing the old derogs and establishing fresh tradelines. If you have a friend or family member who is willing to add you as an authorized user on an older established account in good standing, that's the best and easiest place to start. You should also open two new secured cc accounts. Use the cards and leave a small floating balance ($10-$25) owing each month. If you have no lates and can stay under your credit limits (in a year or so), you should have pretty good credit.
The account that just disappeared is not "old and closed" though--it's been open to this point and I just finished paying it to a $0 balance in February. So technically it should still be reporting on my account, should it not? My question is, is there any way to determine whether I'm better off without it (history to 1996 with 12 30-days and then the last 2 years of perfect payments) before I cut off my nose to spite my face. thanks!
