Of Course, First Premier Question

[ktm214]

I paid my charge off in full ($451). FP said it would not update until 6/10. I got an alert from EX that it updated to 5/2013 as KD. It was listed as 1/2011 as KD so I understand that update. The new balance shows $0 but nowhere does it say paid charge off or PIF CO. Shouldn't it? Our am I wrong? Thank you.

[DaBears]

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@ktm214 wrote:
I paid my charge off in full ($451). FP said it would not update until 6/10. I got an alert from EX that it updated to 5/2013 as KD. It was listed as 1/2011 as KD so I understand that update. The new balance shows $0 but nowhere does it say paid charge off or PIF CO. Shouldn't it? Our am I wrong? Thank you.

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Funny you mentioned this. I just paid them in full as well on May 1st. I checked my credit reports yesterday. EX updated correctly but TU and EQ was updated with still showing a bal I called FP and they said they sent all 4 CRA's the updates on the 23rd. I had to fax my letter from FP to EQ to show it was paid. However TU wants me to send it by mail. Urghhhh

[rm3]

Any score bump from pif the charge off? I'm about to pif both of my COs with them.

[Burned2manybridgesB4]

Scores improve with time, but paid COs look good for manual underwriting, when it comes to borderline card approvals.

[guiness56]

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@Burned2manybridgesB4 wrote:

Scores improve with time, but paid COs look good for manual underwriting, when it comes to borderline card approvals.

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Paid COs with a CC could actually improve your score.   If the balance and CL are reported the TL is factored into your utilization.  Once paid it is taken out of the equation forever.

[Burned2manybridgesB4]

...except for AAOA. That's a bonus, until it falls off.

[DaBears]

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@rm3 wrote:
Any score bump from pif the charge off? I'm about to pif both of my COs with them.

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Still waiting on EQ and TU to update. But yes I will get some type of bump cause my bal was higher than my CL.

[rm3]

Did you pay FP or the CA they tell you has the account? Only FP is reporting.