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Closed AMEX reporting

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CS800
Super Contributor

Closed AMEX reporting

I was just checking my EQ credit report and noticed that AMEX las reported on a closed account in 2008.

 

I had an optima platinum that I closed in 2005 since I wasnt using it. The card was always in good standing and is scehduled to stay on my CR's until 2015 it says .But i fear that if they don't report it, I lose on the history and possibly FICO. Am I making sense? Could a closed account still help me if they report current rather than back in 2008?

 

 




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1 REPLY 1
llecs
Moderator Emeritus

Re: Closed AMEX reporting

If you closed in 2005, then it should not report any history beyond 2005 since it was closed then. If the reporting date is in 2008, then that's OK. There's no harm in that. Looks like your CR still shows the 2005 closure which matches to the drop off date.

 

It would be ideal if it reported current through now, but it would have to be open now too. Even if you closed it this year, and assuming the history was perfect, FICO won't score it differently then vs. now, except for mix I suppose. In other words, FICO doesn't really reward you for making payments on time; it only dings you if late. At least Amex backdates if you want a new one in the future.

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