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Contributor
joeh05
Posts: 92
Registered: ‎03-17-2009

Chase Account

I have a closed chase account reporting on my credit and it will be all paid off in April. I was just wondering if they delete all negetives from this TL but not the TL itself will this help me in anyway?
Young and Dumb!!!!!!
04-5-2009 EQ - 491TU - 522
04/09/2009 EQ - 501 TU - 522
05/03/2009 EQ - 503 TU - 522
09/23/2009 EQ - 522 TU - 563
03/09/2011 EQ - 604 TU -608
Any advice for a 22year old trying to repair and stay there is welcome!!!!
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

Re: Chase Account

If the negative aspects of the tradeline are deleted but the tradeline remains on CR, this will definitely help your CR and FICO.

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Contributor
joeh05
Posts: 92
Registered: ‎03-17-2009

Re: Chase Account

Thanks for the last answer!!!! I do have another question though, if they wont just take the baddies away and say they will take the entire TL should I? This is my oldest account, but there are tons of late remarks associated with it. I think if I got the whole TL deleted it would hurt my score now because of AAoA but I have some New Credit that is in good standing and will remain that way. So I think it would be ok in the long run if they just deleted it. I guess I am just looking for some reassurance???
Young and Dumb!!!!!!
04-5-2009 EQ - 491TU - 522
04/09/2009 EQ - 501 TU - 522
05/03/2009 EQ - 503 TU - 522
09/23/2009 EQ - 522 TU - 563
03/09/2011 EQ - 604 TU -608
Any advice for a 22year old trying to repair and stay there is welcome!!!!
Established Contributor
cartercorp
Posts: 851
Registered: ‎07-01-2008

Re: Chase Account


I think it would be ok in the long run if they just deleted it. I guess I am just looking for some reassurance???

I think you just answered your own question. Delete it if you can.

Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

Re: Chase Account

Don't be too fixated on FICO.  FICO is a measurement tool and part of credit evaluation, but it does not provide a blind eye to bad credit entries. 

 

The older the baddie, the less impact on FICO and the more lenience a LO will give it.  With that said, though, some Loan reviews will frown on it and offer you lower CL's, higher APR's or decline all together not because of FICO, but because of CR content.

 

Use FICO as a gauge, not as the holy grail.

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549

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