04-02-2013 06:36 PM
I am completely confused. BofA reporting the same account as OPEN and CLOSED (with comment " card lost/stolen) - Does this mean it gets counted twice for the AAofA ? it shows up as sep TL. Sorry but I am new to US reporting issues.
Can you post a screenshot of the sections that say "open" and "closed" in a new thread? This thread is for the survey ..
04-02-2013 08:36 PM
I closed Target and first premier
04-03-2013 08:59 AM
1. When did the account get closed? 5/2004
2. How long did account reporting last after that? If your account is still being reported, please tell us the amount of time elapsed from account closing date, in years and months if possible. EQ has already taken it off their report when I checked last month - 8 years and 10 months. The account is still reporting on EX. Haven't checked TU recently so I can't comment on that.
3. What card is it? Who's the creditor? M&I Bank
4. Did the consumer or the creditor close the card? Consumer
5. Any other information and stories about the card?
Also that card had perfect history. I believe there are different rules for accounts with baddies (taken off after 7 years from close?).
04-07-2013 07:18 PM
Can others share their experience as well? I don't think there are that few people that have closed credit cards ...
05-26-2013 07:44 AM - edited 05-26-2013 07:47 AM
Equifax removes an item from its database after 6 years after the last report so old deleted items do not enter into its AAofA. Transunion has a different retention period and a really wacky way of doing business. I also have a lot of accounts that I thought were closed but Transunion says they are reporting for example a car lease that closed in 2000 but was reported in 2009 and was still in their records in 2010. A car loan that closed in 1994 that reported in 2009 was still in their records. How does a car loan get reported on 15 years AFTER it was closed???? That makes no freaking sense! Even more strange - Transunion has a record of hard inquires going back to 2002!
Hey maybe they just keep their records permanently but don't enter into their scoring system? I don't know but Transunion is one funky weird company.
I believe that TU isn't responsible for reporting accounts; if the original creditor is still reporting closed accounts, the accounts will still stay on your report when you pull it.
Point 1: And yet those same reported accounts aren't logged by Equifax but they ARE by Transunion.
Point 2: What would set off a lender company to report on a car loan that has been closed for 15 years except an back inquiry by the CRA itself? There would be no point in the original creditor releasing that information unless it was in turn requested by somebody!
Point 3: Transunion keeping inquires beyond 3 years is not an acceptible practise if the other CRAs automatically drop the inquires at that point.
I don't know if Transunions' practices are different south of the border but I find their business practices weird up here.
Mystery solved with a phone call. Transunion pulled all records for my pre mortgage review in 2009 and in so doing created new activity dates for these old records. They will drop off in about three years.