Gulf State/Cap One - Advice Pls

Discussion in 'Credit Talk' started by Hal, Aug 20, 2001.

  1. Hal

    Hal Well-Known Member

    I reaffirmed a Cross Country Bank debt voluntarily after being contacted by Gulf State Credit. The debt was reaffirmed by Capital One opening a new card with the balance of this debt.

    When I received the notice from Gulf State and accepted it, I received shortly thereafter a notice from Capital one indicating the terms in an enclosed brochure. The brochure indicated that the debt would be marked "Paid in full by settlement" on my credit profile.

    Gulf State updated the reporting last week to read:
    "Account legally paid in full for less than full balance. "

    How should I proceed from here? Does this terminology differ much from "Paid in full by settlement". In my view it appears more derogatory in the wording.

    Should I contact Capital One about this as it was their brochure that indicated the alternate wording? Or should I go straight to Gulf State?
  2. sam

    sam Well-Known Member

    it really doesn't matter to the computers who score you. What matters is the "status" of the account.

    A charge off
    is a charge off
    is a charge off

    Only personal credit reviews might note the difference.
  3. Hal

    Hal Well-Known Member

    I should have been more clear in my concern. I am working towards buying a house and want to know if this will be more derogatory as it is currently reported.

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