PFD My Oldest TL, or suffer 120 Day Lates every month?

[Anonymous]

My oldest trade line is a Chase card opened 5 years and 8 months ago.  It was closed by Chase in Dec 06/Jan 07.  Since then, it went 30, 60, 90, and then 120 for the next 18 months. (18 120 day lates in a row).  They report it 120 late every month.  It had a $500 limit and I owe $538.

My next oldest is a Cap One opened 12/2004, but it was closed due to non payment.  It is currently PIF for about a year, and reports as "Paid as Agreed." It had a $200 limit and I owe $0.

After that is a CapOne opened 12/06.  It is fine, and has $3000 limit.  I also have a $500 BOA that is perfect.

I have an auto loan, several student loans that are also perfect.  Auto opened 1/2007. School loans started in 1/2003.

I also have collections, but I think that the Chase dilemma is the best place to start for now.

My question is whether I should PFD the Chase or PIF and leave it b/c it is an old trade line.  What would help me more?

Oh, as of today (these are up 40-80 pts over last 4 months):

EQ - 501

TU - 513

EX - 503

[Anonymous]

i'm no veteran here, but if it was me i would try to PFD before i would PIF.

my point is that if you PFD and they say no, then you plan to PIF anyways so why not at least TRY the outcome with the best results? worst they could say is no right?

just my 2 cents

[Anonymous]

*Bump*

I would really like more responses.  I guess since payment history is worth more weight than age of accounts, I should try to get it deleted. 

[Anonymous]

I don't think that is true. I would try to keep it on there, but dispute the continual 120 lates. Does it say it's charged off?

I suppose if they didn't charge it off or send it to collections, and for some reason a string of 120 lates is legit, it might be better to PIF. But one 120 late from a while ago might not be as bad as losing account history.