First premiere

[trcl]

New to the boards and what a great wealth of information. I have raised my score 30 points in two weeks with EQ to 623. Have an account with First Premiere from 2008 that states charged off but still shows a revolving balance of 443.00. Last update was 12/10. If I pay the balance of 443.00 will the revolving balance shown be 0? Thanks for any help. It's shows as a revolving account.

[DaBears]

Hi trcl, welcome to myFICO forums. If the bal is higher than the credit limit you will get a boost in score when it updates. If you don't have a bal higher than the CL then it really depends on what else you have on your credit reports. 

Community Leader, 

DaBears

[trcl]

It's double the original limit. Limit was 250 now showing 433.00 it is my debt but wanted to know do I call the OC or to find the collection agency is? They are not currently showing on any of my three reports. Thanks

[DaBears]

Call First Premier and tell them you would like to PFD or PIF. You will get a bump in score. I know personally they will only update to paid was a charge off. They will not delete. I tried 5 times already to get the TL deleted. Mine falls off Nov 14' 

[guiness56]

It doesn't matter what the balance is.  If the balance and CL are both reported it is factored into your utilization.  When paid to 0 the CL will no longer be included in your overall CL and both will be removed from factoring in.

[CreditExpressNJ]

Bears i think you missed one thing he said they havent updated since 2010 that update will screw his reporting up and maybe drop his score

[DaBears]

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@shaun2009 wrote:
Bears i think you missed one thing he said they havent updated since 2010 that update will screw his reporting up and maybe drop his score

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I did miss that, LOL. Nice catch shaun2009. Guiness will yell at me now!!! 

[guiness56]

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@shaun2009 wrote:
Bears i think you missed one thing he said they havent updated since 2010 that update will screw his reporting up and maybe drop his score

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It could.  But with the balance being taken out of utilization he could just break even.

[CreditExpressNJ]

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@guiness56 wrote:

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@shaun2009 wrote:
Bears i think you missed one thing he said they havent updated since 2010 that update will screw his reporting up and maybe drop his score

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It could.  But with the balance being taken out of utilization he could just break even.

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hmm this is a 50/50 then id say leave it but thats bad advice to not pay ur debts idk....

[guiness56]

OP never mentioned utilization.  He could figure it out without the TL and see what it would be.

He also should make sure the OC actually still owns the debt.