Defaulted on some credit cards about 9 years ago (one of them was Chase Visa). In the past year was issued a number of unsecured major credit cards (Discover, Citi Bank Platinum Master Card, Visa). Does this mean that my past history has been dropped from my credit report/record. I've heard it's something like seven years? If I applied to a lender (Chase) that I'd defaulted 9 years ago, if they approved me, would they be able to then charge my account with the amount I owed back then?
Re: Previous Bad Credit Histor Order your credit reports from Experian, TU and Equifax. If all the bad stuff happened 9 years ago, and nothing bad since, you may be ok...but get the reports and check it out for yourself. Dave
Re: Previous Bad Credit Histor Many companies, such as CitiBank and Amex, have a black list. If you've burned them once, they generally won't let you have a second shot. My advice is to apply with companies where you haven't had credit. There are plenty of options available. Good luck. Donna
Re: Previous Bad Credit Histor I was offered a card awhile back which plainly stated that they would add my 9 year-old balance to the card the moment I accepted the card. The pitch was "wouldn't you like to be a nice upstanding citizen and pay your old bills"
Re: Previous Bad Credit Histor It's a good idea to get copies of your credit reports from all three bureaus and make sure all of the negatives are gone. If it's been nine years since your last delinquency, you should have a clean slate. And, if there are some negatives still left, I'd start disputing. As far as accepting a credit card that would have your outstanding balance, I probably wouldn't do it. If I wanted to pay the money, I'd come up with a different arrangement. Per chance, was this a CapOne card? I understand this is one of the tactics they employ to collect money. Good luck. Donna
Re: Previous Bad Credit Histor That sounds like horsehock to me. Who in their right mind would want to dig up a 9+ year old debt? There are other cards. Let them whine about being good citizens...they've already charged it off, and moved on. It's obvious that they have a black list, and who's to say that they won't laugh their keisters off if you pay the ancient debt and ask for a limit increase/apr decrease?? forget 'em I say.
Re: Previous Bad Credit Histor Nope, not Capital One, this was an outfit I had never heard of before or since. I'll look and see if I kept the paperwork for posterity.
Re: Previous Bad Credit Histor HR, Not trying to be nosey but when you say default, you mean just stop paying? They didn't try and sue or turn it over to a collection agency? Anyway, congrats on making it back.
Re: Previous Bad Credit Histor Bigun, Yeah I hit some really bad financial times (basically I went to graduate school and my income dropped significantly, tried to pay but couldn't), so I stopped. Ceditors tracked me for years everywhere I moved, until about 3 years ago. Then it just stopped.
