Long story short- back in 2007 I paid and settled my CC with BOA for a "settlement in full". I recently disputed this account with the CRA and BOA was kind enough to send me a letter that they are updating my status to "pays as agreed"! While not the full deletion, how kind of them without me even asking My question is that even though this is a closed account with a "pays as agreed" status, does my payment history on that account still get factored into the credit score formula? I'm just wondering if I have to go back with a "thank you, but could you also delete my 30, 60, 90+ marks?"
Yes, the payment history is still factored into your scores until those late pays fall off your credit reports. It would be ideal to get all the late pays removed, but based upon how old they are, they may not be affecting your credit scores all that much if you've generated a lot of recent payment history that's positive. Still doesn't hurt to ask though, right? You might get lucky.
Something else to keep in mind about having a old collection account refresh with a new payment status it might temporarily lower your credit score. By changing the status of a negative account it is refreshing the last date of activity to the current month. The same thing can happen when you paid a collection that was 5 years old and didn't request the account to be completely removed from your credit report after you paid it. Thanks! Heather with BoostMyScore.NET
Seashells, It probably wouldn't hurt to write a good will letter to BOA. Heather is correct when she said Make sure you are specific with your request so it doesn't hurt your credit score.
