Dilema with BoA accounts

[CS800]

So I have 3 cards with BoA and all were closed in 2007 with payment plans that will be paying until Dec 2011.

I'm checking my scorewatch with myfico today and in the column 'Negative Indicator', it lists only one of the cards as negative with a flag and the status is 'Pays account as agreed.

The other two cards say 'Negative indicator' = NO

Status : Pays account as agreed.

I don;t think that's normal. I need a sanity check. I beleive all these accounts are positive since they are 'pays account as agreed' even though they were closed.

[MBOhio2]

Were there ever lates on any of the accounts? Even a single 30-day late payment a few years old will cause an account to have a little red flag on SW as a "negative indicator".

[CS800]

The crazy part is all those 3 accounts had 60 days late but only one is reporting negative. Thats the part that I dont get. Could that be a good thing?

[MBOhio2]

Ignore the little red flag for a moment because that's simply a tool of the SW system... when you open the details to the account, do you see the late payments on all 3 of them?

[kjm79]

Are all 3 accounts reporting the same exact information?  I mean exact.  Look at each account closely, make sure all the accounts have the same notes, description, status, etc...I had an one account that reported positive on one CR and negative on the other.  Both said paid or paying as agreed, never late.  But on one CR in the description/notes section it listed the account as included in ch 13 bk.  Otherwise, all reported info was the same across both CR's,  I had GW'd the OC and they had removed all the lates but the description on the one CR made the account a negative.

Were all the lates at the same time?  Is it possible some of the lates were older and have dropped off on one account or another? 

[CS800]

Card 1 :

30 days late 4 times

60 days late 1 time

90+ days late 7 times

All the above are in 2007

Card 2:

30 days late 3 times

60 days late 2 times

90+ days late 6 times

All the above in 2007

Card 3:

30 days late 1 time

60 days late 1 time

90+ days late 8 times

All in 2007

------------------------------------

Only card one has a flag, card 2 and 3 are not listed as negative.

[MBOhio2]

It sounds to me that SW simply has a glitch and failed to put the little red flag next to the other 2 accounts. Remember, when a lender pulls your account, they aren't seeing the SW format so any user-friendly features is for your viewing purposes only. A lender will still see those lates and they'll be viewed as negatives. Those lates are also still affecting your credit score because again, FICO scores have nothing to do with SW's system features.

[CS800]

So once these accounts are PIF, will they then become positive?

They will all be PIF by Dec 2011

[kjm79]

I agree with MBOhio, sounds like a glitch.  And when you PIF, they'll still be negative becuase of the late payments.  Will continue to be negative until the lates fall off.  But once PIF you can try GW'ing to see if they can be removed early. 

[MBOhio2]

No. The lates will still show up for 7-7.5 years from the time of the late payment. And keep in mind that it's not really the account it'self that is negative. You simply have an account with some negative marks. Accounts aren't necessarily all good or all bad. You can have an account with a negative mark that is actually helping you more than hurting you (e.g. because it's an old account, the late is 6 years old, etc)