Hi there community, thank you all for the great advice on all threads, this is the best training in Credit one can ever have!
I have a credit line of $5k that is actually showing as closed, it has been paid on time for a year, then my credit report showed a 30 and 60 day late as the company was sold and during the transition (months) we were not able to make any payments even if I tried, so my $29 balance payment felt through the cracks and now i toke a 37 Points hit on all 3 credit scores.
I tried to do a pay to delete but they denied. I still payed the full balance and now is showing a cero balance but still with late payment. They offered to keep the account open for the $5k credit line (currently showing as closed by consumer). I told them I don’t want to run my credit again as I’m trying to buy a house in the next 6 months so they offered to re-do de file, as they can’t find my account on the system anymore, by taking the info from my initial application... well, today I got a call and they offered me two choices to re-open the account; (a) re-apply and run my credit so I can have full use of the credit line and place orders or (b) have the account report with cero balance with $5k credit line but can’t use the credit to buy anything because (this is the good part!!), apparently they can’t re-build my file because they lost my initial credit application, so there is no record of when I applied!
My question is, what is more beneficial, adding a new $5k credit line (without running my credit)? Or have the account removed? If so, do I get back the whole 37 points I lost when they reported my 60 day late?
(Credit scores 570’s to 610’s)
Thank you for any advice!