07-05-2011 07:21 AM
I am new to posting here, I've been lurking for a few months, and have been motivated to face my credit head on!
I have just received my FICO Scorewatch report, and am trying to start with the easiest things first. (It's really overwhelming to see it all in front of you!)
I had a Target cc which was sent to collections and I have paid a settlement with the CA. Looking at my report, Target is reporting this as "Pays Account as Agreed" but with the notes "Account paid for less than full balance, Closed or paid account/zero balance".
I have 4 90+ day lates showing on this from back in 2009. What is the best way to tackle this? Do I send a GW to have the 90+ day lates removed? Or do I just try to have the whole line removed?
Any help would be greatly appreciated! I am learning so much from all of you here!
07-05-2011 07:52 AM
Welcome to the forums!
Your EQ FICO report via SW is a great first step.
FICO looks at many aspects of your TL and two items are impacting your FICO score the most (negatively): the lates and the comment. FICO reads both. In FICO-speak, a comment of "settled for less than full" or something along those lines is scored on par as a charge-off. Send a GW asking Target to remove both the comment and the lates.
There's a chance you may not want it deleted. If this TL is older than your AAoA, or among your oldest accounts, then you really wouldn't want it deleted. Sometimes the age helps more than the baddie hurts. Now 90+ days are certainly hurting.
07-05-2011 08:07 AM
My AAoA is 6 yrs, and this account was first opened in 8/2007.
So I guess trying to get Target to GW this to remove the 4 lates as well as the line, "Account paid for less than full balance"?
Do most OCs remove that tradeline?
Thanks for your help!
07-05-2011 08:34 AM
Yes to both the lates and the comments. YMMV on your success. It's totally up to the creditor. Some never ever change or remove anything. Some are the exact opposite. It seems there were recent success stories in here with Target. I think your chances are good. Since this TL is younger than your AAoA, and assuming this isn't your oldest revolving (or at least your oldest by 1-2 yrs), then it might be worth asking for a deletion in the GW.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.