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Better luck with GW's since CC's paid off?

New Contributor

Better luck with GW's since CC's paid off?

My husband and I paid off all of our credit cards this week (about $8,800) and I'm wondering if our chances for goodwill deletion will improve since they're paid in full? Should I mention something regarding that we successfully paid off the card in full in the Goodwill letter? If so, anyone have examples of this? Jen
Me:
EQ - 643, TU - 693 (04/09)
EQ - 597, TU - 632, EX - 594 (03/09)
EQ - 540, TU - 603, EX - 590 (6/08)
3 REPLIES
Valued Contributor

Re: Better luck with GW's since CC's paid off?

Yes...GW letters....are NEVER sent to an account that is not paid...or open...
Moderator Emeritus

Re: Better luck with GW's since CC's paid off?



2plus2 wrote:
My husband and I paid off all of our credit cards this week (about $8,800) and I'm wondering if our chances for goodwill deletion will improve since they're paid in full? Should I mention something regarding that we successfully paid off the card in full in the Goodwill letter? If so, anyone have examples of this? Jen

Depending on the age of this account, you may not want it deleted. I had a CO that was deleted once due to CRTP and my score dropped. It was one of my oldest accounts. Once they hit the 7 yrs, the account will turn positive for the remaining 3 yrs. if it is a CC or loan account. You could always ask them to remove the "CO" mention and replace it with "pd in full or as agreed" and/or ask them to remove the lates, if any.
 
And to echo Sly, it is easier to GW if paid, esp. PIF.
 

 
Contributor

Re: Better luck with GW's since CC's paid off?

Not to be the dissenting opinion, but I don't think it hurts to ask a creditor to revise the TL to a positive status when open/carrying a balance, necessarily. I'm sure it could backfire, but it depends on the risk you are willing to take, I guess. I asked Cap 1 to delete my 2 lates while the card was almost maxed out - and they did. I definitely think it helps to PIF, as others have said.
5/11/08 FICOs: EQ - 551
8/6/08 FICOs: EQ - 659, EX - 663, TU - 683