Hello, does anyone have an opinion on this credit item (below) on my friend's Experian credit report? It lists this acct as a good acct. However, I notice that there is still a recent balance (eventhough closed/never late) of $112. Also, the "Credit Limit/Original Amount:" is $104.....yet the "High Balance:" was $730. Aren't both of those things negative? And eventhough the status is listed as "Closed/Never late" can't those 2 things hurt my credit?? If so, should I dispute as not mine, or just leave it on there? Thanks for any help, guys. _______________________________________________ MACYS/GCCCC Address: PO BOX 29116 SHAWNEE MISSION, KS 66201 Status: Closed/Never late. Status Details: This account is scheduled to continue on record until 5-2004. Date Opened: 12/1995 Type: Revolving Reported Since: 11/1995 Terms: NA Date of Status: 05/1997 Monthly Payment: $6 Last Reported: 05/1997 Responsibility: Individual Credit Limit/Original Amount: $104 High Balance: $730 Recent Balance: $112 as of 05/1997 Recent Payment: $0 Creditor's statement: Account closed at credit grantor's request. _________________________________________________
I forgot to mention the negative of "closed by grantor" instead of closed by consumer. That's negative too. Should I, perhaps, just dispute that this item was closed by me (friend) the consumer? thanks.
Is there really still a balance? If not you should at least dispute the current balance. Also, was the credit limit really that low? If not, then dispute that too. The other two issues are a toss up. Account closed by credit grantor and the high balance being above the credit line won't hurt your credit score, at all, but it might raise some eyebrows if someone is reviewing your credit report manually such as for a mortgage. If this is one of few older accounts, then you probably want to keep it for it's history. If you're planning to get a mortgage soon and you have other old accounts for history, then you might try to get rid of it. HTH, Brett
