Rebuilding Your Credit

[j1steve]

Hi All,

I'm writing because I am actively trying to clean up my credit so I can apply for a home loan.  Trying to take care of all my hiccups one by one.  

       Here is one right now.  

       Listed on my report is a BOA credit card account opened in 2003, closed in 2009, with a $2500 limit.  It says I was late paying 3 times in 06.  I called several numbers today and using my SSN, nobody at BOA had any record of me.  I was calling to see if they would delete the lates, but as they have no record of me, it seems that they cannot.   What should I do?

       ALSO....

        Since these lates are so old, do you think it will affect my score that much?  Is it possible that it could actually hurt if they end up deleting the whole acount from the record?  

        Thanks,

        -S

[rckstrscott]

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j1steve wrote:

Hi All,

I'm writing because I am actively trying to clean up my credit so I can apply for a home loan.  Trying to take care of all my hiccups one by one.  

       Here is one right now.  

       Listed on my report is a BOA credit card account opened in 2003, closed in 2009, with a $2500 limit.  It says I was late paying 3 times in 06.  I called several numbers today and using my SSN, nobody at BOA had any record of me.  I was calling to see if they would delete the lates, but as they have no record of me, it seems that they cannot.   What should I do?

       ALSO....

        Since these lates are so old, do you think it will affect my score that much?  Is it possible that it could actually hurt if they end up deleting the whole acount from the record?  

        Thanks,

        -S

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Were they 30 day lates? They are likely not impacting much, if at all...

And yeah, if the whol trade line got deleted, it could impact you age of accounts I believe

-scott

[j1steve]

Yeah, they were only 30's.  I'm probably not even going to mess with it. 

[pizzadude]

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j1steve wrote:

Yeah, they were only 30's.  I'm probably not even going to mess with it. 

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I agree that's probably the best approach ~ the account is almost 10 years old since it was opened in 2003.

[TM0312]

I just went through the same thing with Bank of America. BofA purges their records after about

5 - 51/2 years, that is why they could not find you. Knowing that, I disputed it on my credit report

and it was removed within weeks because BofA could not verify. Hope that helps!!

[j1steve]

So, with that in mind did it hurt or help your score since being gone?

[drkaje]

Have it deleted.

IMO, losing the bad history is a fair trade.

[RobertEG]

What is your current AAoA, and what effect would its deletion have on your current AAoA?

Is it your oldest TL?

[luckelle]

If you have a good average age it might be a benefit in the short term with it removed. your score may move faster with out that overall baddie TL.

[j1steve]

My AAoA is 6.4 years.  Keep in mind.  This particular account has been closed since 05/09.  

My oldest account is 10.9 years old.  I'm thinking that is a credit card I have was closed in 2004. 

The oldest account that is still open is a charge account with Firestone Tires.  Opened since 2003.  No baddies.

Any thoughts with this in mind?