I closed my FNB of M card in Jan 2001. It is being reported account closed at consumer's request. However, every month fnb of m is reporting this to Experian. So my dates keep changing: Date Opened: 10/1999 Reported Since: 10/1999 Date of Status: 04/2002 Last Reported: 04/2002 Status Details: This account is scheduled to continue on record until 4-2012. As you can see, it looks like I just closed the account. Does this help or hurt me?
Hello Kelly, Hope you are well and the house is coming along. I don't think that you are being hurt or helped by this reporting issue right now. I would just ignore it. Since I presume that you closed the account in good standing, you will get some 'aging' benefit way out in 2012 and beyond since the record of this good account will still be showing beyond the normal limit of 1/2011. i.e. 10 years out. My wife and I both have paid and never late student loans that will remain on our reports for 13 and 14 years instead of 10 due to this per Experian( EX shows the drop off date right on the report).
Thanks King I've been paying off cards and closing them. I read somewhere that closing accts in a short time period hurts your score. I was concerned because I'm closing Providian soon. The house is scheduled to be finished by June 30th Thank God! They are replacing everything inside the home so I'm changing room sizes to better match my needs! I can't wait til it's done
Actually (from what I've heard anyway) closing an account early does hurt your score. So it appears the way they are reporting it now you are better off. For some reason Fico wants your average account to be 3 years. So if you have an account open for only 1 and then close it, it will take your average down. So the longer the account is open (even if the balance is zero----although this could hurt you too) the better. scott
