First Premier

[hoping2rebuild]

I looked at my Transunion credit file today and

First Premier had changed the description to Paid account was collection

FIRST PREMIER BANK  #517800769618****

3820 N LOUISE AVE SIOUX FALLS, SD 57107 Phone number not available	Balance: $0 Date Updated: 07/26/2011 High Balance: $652 Credit Limit: $0 Last Payment: 11/16/2008	Pay Status: >Account paid in Full; was a Charge-off< Account Type: Revolving Account Responsibility: Individual Account Date Opened: 05/28/2008 Date Closed: 12/05/2008 Date Paid: 11/16/2008
Loan Type: CREDIT CARD Remark: TRANSFERRED TO ANOTHER OFFICE Estimated month and year that this item will be removed: 11/2015

ON Experian it was also changed from a charge off to transferred/sold and

is listed under positive accounts.

FIRST PREMIER BANK

Address:  601 S MINNESOTA AVE   SIOUX FALLS, SD 57104  (800) 987-5521	Account Number: 517800769618....
Address Identification Number:   0054388070
Status: Transferred,closed.	Status Details: This account is scheduled to continue on record until Jul 2021. This item was updated from our processing of your dispute in Apr 2010.
Date Opened: 05/2008 Date of Status: 07/2011 Reported Since: 07/2011 Last Reported Date: 07/2011	Type: Credit card Terms: N/A  Monthly Payment: $0 Responsibility: Individual	Credit Limit: N/A High Balance: $652  Recent Balance: N/A Recent Payment: N/A

Is it to much to hope that this is a goodwill response on their part?  I have sent

them a TON of GW emails.

[2NE1]

I thought that having a "paid in full - was a charge off" was noted as a negative item to have on your CR... or am I wrong? because I have those are well and aren't helping my score and wow, Experian says "This account is scheduled to continue on record until Jul 2021." ouch! I don't know if having a "Status: Transferred,closed. " under Experian means a good thing.

[hoping2rebuild]

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@2NE1 wrote:

I thought that having a "paid in full - was a charge off" was noted as a negative item to have on your CR... or am I wrong? because I have those are well and aren't helping my score and wow, Experian says "This account is scheduled to continue on record until Jul 2021." ouch! I don't know if having a "Status: Transferred,closed. " under Experian means a good thing.

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All I know is that is was listed with the negative items now it is listed with the positive. It was also listed a a Charge off now it is just listed as transferred closed

I was originally supposed to only remain until OCT 2015

[casmith1980]

Please let me know what you find out!!!  I just set off a Christmas Card offering to pay the account in full for a delete.  I KNOW they won't delete, but I felt compelled to throw that in there. 

Maybe I should just pay it in full and then GW them to death

[RobertEG]

You cant use the Current Status of an account as an indication of its derogatory status or effect on credit scoring.

Current Status only reflects what it says, the current status.  It does not include any prior status or history.

When a creditor does as charge-off, they report that as the current status.  It is also recorded in your Payment History profile, and in your Payment Rating.

When the account is paid, regardless of whether paid for the full amount or less than the full amount, it then reverts to one and only one Current Status.

"Paid."  If paid for less than the full amount, that is not reflected in its current status.  Payment for less is recorded separately in a Special Comment field code.

The prior status/event of the charge-off is separately retained.  Your Payment Rating retains its status prior to its current status, which in this case would be Charged-off.  And the charge-off is also recorded in your past Payment History profile.

Payment does not clear the file of all prior delinquency reporting.  The fact that a particular credit report does not include reference to prior status or history does not mean that it is gone from the file, and thus from FICO scoring.  Current Status of Paid is just a part of the picture.

[hoping2rebuild]

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@RobertEG wrote:

You cant use the Current Status of an account as an indication of its derogatory status or effect on credit scoring.

Current Status only reflects what it says, the current status.  It does not include any prior status or history.

When a creditor does as charge-off, they report that as the current status.  It is also recorded in your Payment History profile, and in your Payment Rating.

When the account is paid, regardless of whether paid for the full amount or less than the full amount, it then reverts to one and only one Current Status.

"Paid."  If paid for less than the full amount, that is not reflected in its current status.  Payment for less is recorded separately in a Special Comment field code.

The prior status/event of the charge-off is separately retained.  Your Payment Rating retains its status prior to its current status, which in this case would be Charged-off.  And the charge-off is also recorded in your past Payment History profile.

Payment does not clear the file of all prior delinquency reporting.  The fact that a particular credit report does not include reference to prior status or history does not mean that it is gone from the file, and thus from FICO scoring.  Current Status of Paid is just a part of the picture.

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Robert why did EX change it to a postive account?

I am still trying to get a grasp of this whole thing