I have 28 old accounts, all closed with zero balance, paid satisfactory. â?¢ How do I remove such accounts? â?¢ How do they reflect on my CR and FICO (do I need to remove them at all)? â?¢ How about closed acounts, still listed as "open"? Your opinion, please ...
Re: Re: Questions about closed accounts Not sure what you are saying ... will take a bump in which case? Because they are too many? If I remove them? Because some of them are listed as "open"? C'mon George, be more descriptive ...
Re: Re: Re: Questions about closed accounts You get HISTORY bonus points..."IF" YOU REMOVE ALL YOU OLD (GOOD) HISTORY...YOUR F.I.C.O. WILL TAKE A DUMP!!!!!!!!!!
Re: Re: Re: Questions about closed accounts Don't ever remove old accounts reporting as good, especially with zero balance. Even if they report as open, it's still a zero balance and helps you in your utilization balances and factors, unless you have other accounts that have utilization factors to play with these. If that is the case, I would simply contact the original creditor, (*not the CRA*) and ask them to please report the account a closed zero balance. Your length in history is important so do what you can to keep these in tact. If you dispute with the CRA they may just dissappear for good. Thats why I say go with the original creditor.
Re: Re: Re: Questions about closed accounts Now you are talking ... thanks! How about accounts closed with zero balance, paid satisfactory, still listed as "open"? Should I dispute them and get them listed as "closed"?
Re: Re: Re: Re: Questions about closed accounts That answers my questions. Will call the OC and ask them very politely to report the accounts as closed. Thanks!
Re: Re: Re: Re: Questions about closed accounts When your 50 years old and have NO HISTORY before you were 45...THEY ARE GONNA' ASK MANY QUSTIONS!!! ...or you will just be DENIED...LACK OF HISTORY
Re: Re: Re: Re: Questions about closed accounts Just don't get upset if the CRA's don't report them as closed even if the OC sends them an update. Some CRA's are famous for letting accounts stay open for years. As long as it doesn't play a factor in your debt ratio, you should be ok, cause your (*GOOD*) history is playing more of a factor.
Re: Re: Re: Re: Re: Questions about closed accounts Got it, George ... thanks! Yeah, I've heard that, but will give it a try. Thanks!
Re: Re: Re: Re: Re: Questions about closed accounts Jlynn's Golden Rule #1 Never, never, ever touch satisfactory accounts. CRA's Golden Rule #1 If a consumer disputes part of a perfectly good TL, we most certainly will delete the whole TL.
Re: Re: Re: Re: Re: Re: Questions about closed accounts Thanks, Jlynn! I just didn't know if 28 paid and closed accounts is good or bad. As for the ones left "open", I'll just leave them that way. I guess it's not such a harm after all, since the payment history has stopped when they were closed. Now, keep going with the Jlynn's Golden Rules ...
I'm in the same boat as you...probably 26 or 27 old accts...starting back around 90-91 and going through about 97-98... that show on my CR. I think those definitely help, even though they are closed, but still on your report. I got a mortgage recently with scores in the 680s-690s and my lender was absolutely puzzled as to why my scores were so high when I had 2 COs from about 3 1/2 - 4 years ago and another acct with multiple 90 day lates from just over 2 years ago. He swore up and down that my CR should be around 600, if not in the mid to upper 500s based on all the credit reports and scores that he's seen. I also only had 3 open TLs(CC) at the time + 1 auto loan...so NOT a TON of recent history. But besides those 3 negative accounts, EVERYTHING else in my history was spotless! I'd definitely have to say that those old accts are propping my scores up.
Re: Re: Re: Re: Re: Re: Re: Questio I say don't ask for anything on the "Open" old accounts. If the CRA is showing the account as being open, then they should theoretically continue to show the account on your credit report indefinitly. Could you imagine 30 years from now, showing 10 accounts still open in good standing (even thou they show no activity for 35 years) that are near 40 years old? You'd have one of those 800's FICO scores assuming all the negs have fallen off.
Re: Re: Re: Re: Re: Re: Re: Re: Questio When you put it this way, it sounds wonderful. The paradise of 800's FICO ...
Re: Re: Re: Re: Re: Re: Questions about closed accounts Never, never, ever touch satisfactory accounts. AMEX BLUE GONE FOREVER (EXPERIAN) WHEN I WANTED CREDIT LIMIT N/A CHANGED TO CREDIT LIMIT $15,500!!!
Re: Re: Questions about closed accounts It wasn't like I was saying "NOT MINE"...I just wanted the credit limit---not N/A
Re: Re: Questions about closed accounts GEORGE: You don't like Not Applicable Credit Limit? Isn't that accurate and complete enough for you... Heck, I have a student loan which is showing up as having been $23,000+ (yes, that would be for one semester... every other student loan is $5,500 or less.) BUT its an I1, PAID OR PAYING AS AGREED, ACCOUNT TRANSFERRED OR SOLD. positive account. But I would shoot myself if I even thought about questioning it...
Re: Re: Re: Questions about closed accounts WITH N/A I GET NO BENEFIT OF THE $15,500 CREDIT LIMIT FOR DEBT TO CREDIT LIMIT RATIO!!!!! THAT IS PART OF THE F.I.C.O. SCORE
