How can companies update your credit reports after the account has been closed and paid off? I pulled my Equifax report and two Hechts accounts (both tabletop accounts) were were closed in 1999 with $0 balances, but they are still reporting to the bureaus each month. So it looks like I closed them in July 2001. And Discover, Amex, and Hechts (flex account) are not reporting my credit limits...still. Ugh! They are out to get us. Also, has anybody ever gotten their Discover card rate reduced? Mine is 14.9% fixed as of now, but it's higher than the rest of my major cards (all one of them). Any advice would be appreciated. Thanks. Dani
Have you challenged these? If so, if they come back "remains" or "verified" or "whatever" the CRA treat that as an update...... Worse yet, that is the date FICO is using for scoring, not the original close date! good luck, bkev
Thanks, bkev for replying. It's only the May Department Stores that are doing this. The accounts were in good standing, but if I closed something in 1998 I don't want it updated each month. They're pretty minor errors, but to someone pulling my credit report it looks like the accounts are still active although their closed. Go figure. Dani
MINE IS 15.99%...has been dropping with the PRIME RATE... I have a BT RATE of 9.90% 2-3 months You get/got 1.90% or 2.90% 5-6 months Paying interest DEFEATS the purpose of having a CASH BACK card...
My Foley's card is doing the same thing. Closed it 11/2000, but they are updating every month. I hesitate to dispute this w/ bureaus, since they cannot seem to get the gist of what "closed by consumer means." Disputed a Cap One account as closed by consumer-they change it back to open (was closed by credit grantor-even though I sent them a copy of my confirmation letter).
Add Capital One to that group.... none report credit limits and FICO thinks all are 100% of credit limits! What people don't realize is that even if you pay off your balance every month, it's still reported to the CRAs and still effects your FICO score!
