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Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Accounts under $100 not supposed to be listed on credit?

A collection is a collection, no matter the amount.  It is entirely up to the creditor whether or not they report it.  I have seen a collection as small as $10.

 

EQ and EX are not under any obligation to remove a collection because it is under $100.  Neither is TU. 

 

As stated several times, it is the FICO scoring model that does not factor in collections under $100.  It does not mean they cannot be on your report.  There is no basis for a dispute and no basis the CRAs would remove them based on the information you cited.  If TU did, you got lucky, they didn't have to.

 

 

New Contributor
Posts: 63
Registered: ‎02-15-2013
0

Re: Accounts under $100 not supposed to be listed on credit?

Easy way out?? None of this has been easy. Everyone here is trying to 'rebuild' credit. Mistakes were made in some way that we all are trying to fix (is what I thought people were doing). And what was misleading??
Valued Contributor
Posts: 2,661
Registered: ‎04-25-2011
0

Re: Accounts under $100 not supposed to be listed on credit?


gummiebear wrote:
Easy way out?? None of this has been easy. Everyone here is trying to 'rebuild' credit. Mistakes were made in some way that we all are trying to fix (is what I thought people were doing). And what was misleading??

I don't think there was anything misleading personally in the title of this thread. 

 

I have heard the $100 and lower collections not factoring into the TU08 scoring model.  Just as It has been explained many times on this thread that this only impacts on version of the FICO scoring model. Which, impacts nothing that Experian or Equifax does, because they purchase different FICO flavors from FICO.

 

The reason TU removed you account is unclear. Maybe the CSR who handled your situation bought into your reasoning. I had several under $100 dollar accounts on my credit reports, at least 7, and TU did not remove any of them, I had to pay them and GW them away, like always. There is nothing that says they cannot show these accounts. There is nothing indicating this anywhere, and anything saying to the contrary is incomplete and anecdotal.

 

Congrats on the removal! I don't think anyone is judging you. Smiley Happy We just want to be helpful. 

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Senior Contributor
Posts: 3,930
Registered: ‎10-26-2012
0

Re: Accounts under $100 not supposed to be listed on credit?

TY Guiness and Scott. I'm just trying to be helpful Smiley Sad

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