I just realized that my Chase auto lease from 2001 is still being reported as open, even though its closed. It was always paid on time, so it was a good account. But now I have Volkswagen Credit on my account. Is having both of those accounts listed as open a negative or a positive? Should I contact the CRA and tell them that Chase is closed? Or leave it as is? Thanks!
Good question Lesley, If BOTH accounts appear open it makes it look like you have more cash outlay responsibilities than you actually do have. Looks like you're paying on 2 vehicles not just one. This could very well prevent a creditors from wanting to loan you money in the future. Just dispute as closed to the CRA's. If you're sure it's positive in all other respects I'd include that in my dispute. "Everything else is correct". "Please list as closed".
Is the BALANCE shown as $0??? "IF" it is...that should be good enough...YOU ALWAYS RISK LOSING THE ACCOUNT TOTALLY OFF YOUR CREDIT REPORT... Tread lightly...
Re: Re: Open Vs Closed By The Gods!!! Geo. is right. Better idea = argue with the OC to correct incorrect reporting. Good Catch George. .
Re: Re: Open Vs Closed I was about to say the same thing when I read George's post. My motto now is "if it ain't broke too badly, don't dispute it!" Did a validation w/OC and got two of three late/chargeoffs to read as positive. Disputed the one "stubborn" TL w/EXP and whoops! The other two great ones turned nasty again. Go back, jack, do it again, wheel turning round and round...
