Credit Cards

[rootpooty]

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YoungMoney06 wrote:

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What does the rest of your report look like? Any revolving  cards? Any other baddies? How's your util?

I don't know about the 'NO RECENT NON- MORTGAGE BALANCE INFORMATION'.

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The rest of the report looks slim, but good. One satisfied "paid, or paying as agreed" installment account, recent from 2010. I also just received a credit card about a month ago that has been reported to my account, so one positive revolving account. Only thing is that when it reported, I had $0 balance, so no utilization with that card. Here is the downfall, I believe causing issues with my account. In 2006, I had a credit card with CapOne with a $300 CL, and the high balance, which includes late fees, etc. etc. is $690. I'm sure this is likely hurting my utilization, but CapOne sold the account and it is scheduled to be removed 03/2014. I would like to have it come off, but I don't know if I want to right now because it is giving my credit report a nice AAoA of about 6 years. Removing may hurt more than keeping it, right?

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Def not you have a charge off reporting causing you to automatcally have more than 50% util every month.  Its def hurting you more than helping you at this point

[YoungMoney06]

rootpooty: What is the chances of having it removed by CapOne? I'm considering reaching out to CapOne and possibly paying the balance down, but is it even still possible with the account closed and charged off?

[09Lexie]

I would ask Cap1 for a PFD.  I agree that this charge-off is hurting you. 

[YoungMoney06]

I'm reading that since the debt was sold to a third-party, CapOne likely will not allow me to PFD or pay down the balance since the account is no longer their problem. Is there any hope for me?