Account closed for 10 years and still reporting?

[Anonymous]

Hello, I have an account that has been closed since '97 that is still reporting.

Here are the details.

Discover: opened 12/94, limit $1500, balance $1200, previously late a lot but not late since 9/06, account closed in 97 but still reporting every month because I am still paying down the balance.

****UPDATE***** I have paid this down to $200

I was reading in this thread:

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2689

that credit cards can report a closed account for 7 years (10 if it is positive).

This is my oldest account, it has been closed since '97 but I have been paying on it, so it has been and still is reporting. The past 18 months have been paid on time every time.

If I were to pay this off, would the account drop off of my credit reports right away? since it was closed by credit grantor in '97 due to delinquency.

How would this effect my score? it is a 14 year old account, but there is a lot of 120 / 90 / 60...etc.

Thanks in advance.

[Anonymous]

Im not sure that I can answer....but I will point some this out.

#  1  it is counting in your HX

#2    a dispute MAY  delete the whole account

#3    a dispute MAY  just delete lates     its a crap shoot.

#4    I would advise NOT calling and talking to a rep.

# 5   call the FTC  main #   it is a switchboard   ask for the phone # for the admin. offices (you do not want the help or customer svc #)     Call that # and ask to speak to someone about your account. This person MAY be able to delete only the lates  OR may tell you they will delete everything.

ASK this person IF they can reopen your account as you have been a good customer after you had trouble   you haven't missed a payment.......you never know what they will do   but it might help.

#6  IMO  it should have been deleted at the 7 year mark   even though you are making payments....CRTP doesn't change after CO  even when making payments. DOLA doesn't matter.

Please wait for others to add their imput!!!!

[Anonymous]

I asked if they would reinstate the account, and they said no.

DISCOVER doesn't even know the exact date it was closed, because it was so long ago.

Will it hurt my score to loose this account? (it is my oldest)

Message Edited by crashu91 on 03-04-2008 01:12 PM

[Anonymous]

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HappyDays wrote:

Im not sure that I can answer....but I will point some this out.

#  1  it is counting in your HX

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forgive me, but I don't know what that means.

[fused]

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crashu91 wrote:

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HappyDays wrote:

#  1  it is counting in your HX

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forgive me, but I don't know what that means.

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HX = History!

[Anonymous]

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fused wrote:

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crashu91 wrote:

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HappyDays wrote:

#  1  it is counting in your HX

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forgive me, but I don't know what that means.

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HX = History!

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Thanks, Yes it is counting.

[liz9100]

Crazy thing happened to me I removed my BK 13 and my score drop by 20 points. I was not happy but I just got another card to replace it. Score will go back up it just takes time for us.