topic Re: Accounts I didn't activate are reporting! Please Help? in Rebuilding Your Credit

Accounts I didn't activate are reporting! Please Help?

ltfb — Wed, 10 Oct 2012 20:59:12 GMT

I foolishly opened the following cards before doing the proper research/reading the fine print and closed them almost immediately after I read horror stories/saw the fine print. They however showed up on my CR and I need to get them off asap, because they are reducing my avg account age.

First Premier CC: Opened one evening, closed the next morning. They hadn't even made/sent the card yet.
Applied Bank Secured Card: Closed as soon as I got the card in the mail about a wk later and gott back deposit. Didn't activate the card or make purchases.

So First Premier lied...(surprise!)
They told me to dispute and it would be deleted. I disputed and they verified. I called back and they said that since I paid the application fee the acc was opened and the 1st agent I spoke to was wrong.

No word yet on the Applied Bank dispute but I now have a sinking feeling.....gonna sit tight until they update/delete.

Has anyone had luck removing these types of accounts?

Re: Accounts I didn't activate are reporting! Please Help?

RobertEG — Wed, 10 Oct 2012 21:10:22 GMT

When you apply and they approve, the account is open.

"Activation" is a security measure used to ensure that the consumer has received the card. Failing to activate does not mean the account was not open.

Re: Accounts I didn't activate are reporting! Please Help?

Shogun — Wed, 10 Oct 2012 21:20:02 GMT

I would suggest sending them a GW letter to start with. Don't go straight to disputes. Read the thread below. Good Luck!

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Stories/td-p/1573680

Re: Accounts I didn't activate are reporting! Please Help?

ltfb — Thu, 11 Oct 2012 01:08:48 GMT

Thanks!

Please critique:

Dear Sir or Madam,

I am writing this letter in order to kindly request your help. I recently canceled a First Premier credit card application in less than 24hrs and did not receive or activate the credit card.

A FP account #xxxx has since started reporting to the CRAs. When I spoke to your customer service representative to request a deletion of this tradeline, he told be that it would be removed if I disputed this account with the CRAs, however when I did that, First Premier verified the account.

Since the FP tradeline has started reporting, I have noticed that my credit score is being affected negatively by the addition of this account to my credit report in different ways, since the credit score rating is influenced by the opening of new accounts and by the average age of all accounts, which is in itself affected by opening of new accounts.

I am kindly asking FP for a courtesy gesture of goodwill to instruct the credit bureaus to remove this charge account, which was opened for less than 24hrs, from my credit reports. I would greatly appreciate this deletion as I am currently in the process of trying to rebuild my credit.

I really appreciate your time and hope to to receive a favorable response soon.

Very Sincerely

Re: Accounts I didn't activate are reporting! Please Help?

HappySoda — Thu, 11 Oct 2012 01:17:54 GMT

Sounds like a hot mess you got yourself into. You should have just left them active for a little while then closed them out like a normal person with good payments.

What are you freaking out about? There's some crazy fees yes, but no reason for you to freak out and cancel the next day.

It sounds like you're just creating more trouble for yourself by way of being paranoid. Sounds like you are an impulsive person. Activate without knowing the details (impulsive) and then freak out and cancel because you think it's bad for you (impulsive).

Relax dude. Seriously.

ltfb wrote:
Thanks!

Please critique:

Dear Sir or Madam,

I am writing this letter in order to kindly request your help. I recently canceled a First Premier credit card application in less than 24hrs and did not receive or activate the credit card.

A FP account #xxxx has since started reporting to the CRAs. When I spoke to your customer service representative to request a deletion of this tradeline, he told be that it would be removed if I disputed this account with the CRAs, however when I did that, First Premier verified the account.

Since the FP tradeline has started reporting, I have noticed that my credit score is being affected negatively by the addition of this account to my credit report in different ways, since the credit score rating is influenced by the opening of new accounts and by the average age of all accounts, which is in itself affected by opening of new accounts.

I am kindly asking FP for a courtesy gesture of goodwill to instruct the credit bureaus to remove this charge account, which was opened for less than 24hrs, from my credit reports. I would greatly appreciate this deletion as I am currently in the process of trying to rebuild my credit.

I really appreciate your time and hope to to receive a favorable response soon.

Very Sincerely

Re: Accounts I didn't activate are reporting! Please Help?

ltfb — Thu, 11 Oct 2012 01:30:07 GMT

Thanks for your constructive, positive, non-judgmental input.

Re: Accounts I didn't activate are reporting! Please Help?

HappySoda — Thu, 11 Oct 2012 02:24:18 GMT

I'm sorry man. Just stop being so impulsive and think about things before you do them.

Before you do anything else, make sure you understand the repercussions of your actions. If you get a crappy card or credit terms in the future, you could easily just let the card sit there for 6 months, buy a soda now and then and pay it off immediately, then cancel it 6 months down the line. It looks a lot better than an acct that was activated and cancelled the same day.

I do wish you luck in getting these accounts squared away. I truly do hope you find a solution. If all else fails, maybe they will re-activate them for you? Hold onto them for a few months, then cancel them with a good standing. I don't know what else you can do if they won't goodwill.

Re: Accounts I didn't activate are reporting! Please Help?

fuzzybean — Thu, 11 Oct 2012 02:30:05 GMT

HappySoda,

I believe you've quickly worn out your welcome. We don't judge here and neither should you!

Do us all a favor and either be nice or leave!

Re: Accounts I didn't activate are reporting! Please Help?

fuzzybean — Thu, 11 Oct 2012 02:31:17 GMT

HappySoda wrote:
I'm sorry man. Just stop being so impulsive and think about things before you do them.

Before you do anything else, make sure you understand the repercussions of your actions. If you get a crappy card or credit terms in the future, you could easily just let the card sit there for 6 months, buy a soda now and then and pay it off immediately, then cancel it 6 months down the line. It looks a lot better than an acct that was activated and cancelled the same day.

I do wish you luck in getting these accounts squared away. I truly do hope you find a solution. If all else fails, maybe they will re-activate them for you? Hold onto them for a few months, then cancel them with a good standing. I don't know what else you can do if they won't goodwill.

Hey HappySoda,

Maybe you should stop being so impulsive in your postings!

Re: Accounts I didn't activate are reporting! Please Help?

Shogun — Thu, 11 Oct 2012 02:34:24 GMT

Alright, let's get back to the point of the thread and help the OP.

Re: Accounts I didn't activate are reporting! Please Help?

Shogun — Thu, 11 Oct 2012 02:38:49 GMT

FYI, letter looks OK, but I'd leave out the part about disputing. Good Luck!

Re: Accounts I didn't activate are reporting! Please Help?

fuzzybean — Thu, 11 Oct 2012 02:45:10 GMT

Shogun wrote:
Alright, let's get back to the point of the thread and help the OP.

.

Definitely!

Re: Accounts I didn't activate are reporting! Please Help?

HappySoda — Thu, 11 Oct 2012 02:47:04 GMT

lol sorry, I just believe in being real with people.

I will relax myself.

Re: Accounts I didn't activate are reporting! Please Help?

fuzzybean — Thu, 11 Oct 2012 02:48:23 GMT

Being real is good. Being rude is bad.

Re: Accounts I didn't activate are reporting! Please Help?

Shogun — Thu, 11 Oct 2012 02:49:47 GMT

OK... It's done... :) Shake hands and let's get back to work.

Re: Accounts I didn't activate are reporting! Please Help?

ltfb — Thu, 11 Oct 2012 04:08:54 GMT

Thanks fuzzybean and Shogun, I wouldn't worry about HappySoda, it seems to be a pattern of trolling this forum:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/This-Board-Seems-like-it-s-Filled-with-People-That/td-p/1636146

Anyway, I tweaked the letter a bit. Please let me know what you think, thanks!

Dear Sir or Madam,

I am writing this letter in order to kindly request your help. I recently canceled a First Premier credit card application in less than 24hrs and did not receive or activate the credit card. A FP account #xxxx has since started reporting to the CRAs. I previously spoke to your customer service representative to request a deletion of this tradeline and he told be that it would be removed, so I am just following up for confirmation.

I really appreciate your time and hope to to receive a favorable response soon.

Very Sincerely

Re: Accounts I didn't activate are reporting! Please Help?

Shogun — Thu, 11 Oct 2012 04:12:46 GMT

You're welcome, and yes that is better. Now get it sent! Now get it sent!

Re: Accounts I didn't activate are reporting! Please Help?

llecs — Thu, 11 Oct 2012 14:22:08 GMT

I'll throw out there that it'll be a long shot to get it deleted, or at least based on others' attempt in the past. I don't know what it did to your FICO scores. If these were your only two CCs you probably would have seen a large increase followed by a decrease once closed. If you have other open CCs, they probably are a score drain due to the new credit and impact to AAoA. While they'll hurt now, your scores will rebound in a few months (assuming they hurt it) and/or you'll see gradual increases over the next few months as these closed accts age. Your score will fully rebound inside 6-12 months and it'll continue to help as it gets older (assuming you apply for new credit in the future). In other words, if I had it, I'd let it age and it'll disappear around the 10-yr mark.

I'll agree that these are crappy cards because of their fees, rates, and low limits. However, if you search anything, like 'Apple' or 'Microsoft', you'll find that these are scams too (or so says the WWW). The internet is the digital bathroom walls of society. Anyone can say anything. You'll find similar comments about other CCs like Amex, Discover, CapOne (most def!), and so on. Don't base a decision on others' experiences. Make a judgment call on your own. I'd wait it out credit-wise for a few months. If you don't have any CCs, then try adding a secured CC from somewhere.

Re: Accounts I didn't activate are reporting! Please Help?

ltfb — Thu, 11 Oct 2012 15:16:11 GMT

Got it, thanks.

Anyone have First Premier or Applied Bank executive office contact information? Emails or Tel nos?