11-05-2010 04:41 AM - edited 11-05-2010 04:49 AM
Hey guys, I just checked my fico score (equifax - 786 and TransUnion - 767) last night and I noticed that there is one credit card 'bank of america' that is showing as lost or stolen. It shows I opened it on 12/2003, the only ard I opened that month is the one that is showing fine on my report. . I never reported lost or stolen cards and im not sure why its on my report, I have never seen it on there in the previous times I checked my report. It only reports like this on equifax and not on transunion.
Should I get in touch with back of america to see if they reported lost or stolen card? How can I find out more information about this?
Another question - I co-signed on a stuent loan. We qualified for 75,000 max but so far she only took 6,573. This is reporting as a revolving account. Why do my student loans report as installment loans and this one reports as a revolving account when its just a personal student loan taken out. Is this good or bad that its showing up like this? When I click on details for this account it says largest past balance 75,000, under descriptions it says line of credit and payment deferred.
Thanks for your help everyone
11-05-2010 05:32 AM
I would talk to BoA first to see what's going on with your card. if BoA doesn't know why that's happening I would then dispute it with the bureau(s) to clear that up. I do not think it has an affect on your credit score.
As far as the student loan, if it is a personal loan (simple interest) it will show as a revolving account. If it's a consolidated loan or a loan from the government it shows up a installment loan.
I'm sure other people could touch upon this, as well.
11-05-2010 09:43 AM
I myself had privent loans and government loans and they all showed up on my credit report as installment loans. That is why I am a little confused why this one is showing up as revolving account.
11-05-2010 09:57 AM
...Another question - I co-signed on a stuent loan. We qualified for 75,000 max but so far she only took 6,573. This is reporting as a revolving account. Why do my student loans report as installment loans and this one reports as a revolving account when its just a personal student loan taken out. Is this good or bad that its showing up like this? When I click on details for this account it says largest past balance 75,000, under descriptions it says line of credit and payment deferred.
It's possible that it's just displaying wrong on the myFICO reports. This can happen with any monitoring service report, including myFICO.
What you need to do is check on the full credit reports, the ones that you get via annualcreditreport-dot-com and/or the credit bureaus themselves. (Don't sign up for anything or buy scores in the process; just get the full one-time report.)
Check the status on the full reports, because they're what are used for creating your scores. If this is showing as a revolving line of credit on the full reports, that might be a problem.
The good part would be that since the CL is so high, it should be ignored for calculating your revolving util. But it's odd that a student loan would report as a line of credit. Where did the SL come from? What type of loan is it?
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