Discover is reporting an account on my cr that was opened in 1989 and closed in 1994 as Inactive/Never late and it shows $1500 cl with 0 balance as of 1999. Would it improve my score if I have it removed or is it better to keep it?
I'm just guessing - but if it says inactive, it's not technically closed - so maybe if you call they'd reopen it (I've had success doing that and I think George has too). That way you have a nice, aged trade line, which is a good thing. Of course, they might pull an inquiry though..... I'd wait for other opinions though... I'm not one of the CreditNet experts! <g> Ozzy.
I have Chevron, Home Depot and Speigal reporting like this on mine. HD & S both told me it had been too long and I'd have to reapply. I asked HD to remove it then and never heard anything back. It's still there. The only reason I'm not pushing it is because they were all accounts in good standing. I wonder if these ever fall off???
I'm no expert either...but I have one code saying my score is too low because accounts are too new. I would leave and old positive account, especially since it's closed. Hubby applied for something and they told him you have to have at least one account over 10 yrs old to be considered. He has 750+ scores and they wouldn't approve him because his oldest line is 1994.
Hell if I know...he was telling me this the other night when he finally wanted copies of his credit reports. I have been doing mine FOREVER (it seems). He wanted his out of curiousity and when we started talking about scores etc he told me this. It was before we were married (newlyweds still).
Thank you very much everybody for your imput and thank you Christi for bringing up " too few accounts" aspect. It is something I did not consider and it certaily may apply to me. I will leave Discover entry unchallenged and let you know if/when it drops off.
