Reporting Paid as Agreed but high balance!!!!

Anonymous · ‎01-12-2015

Greeting Fellas,

I have recently noticed that I had a card back in 2005, that was reported lost. It si currently still being reported to my Credit File. Although reporting is somewhat positive, I have some concerns as it is stating a high balance.

1- Could anyone explain to me why it is reporting a high balance than its CL?

2- Since it is being reported in positive status, what positive role if any, it has on my scores?

3- Should I have it deleted or let it be there for now? (Date Updated is 11/30/2007, which I think is out of legal reporting range)

FIRST PREMIER BANK #48695****

3820 N LOUISE AVE
SIOUX FALLS, SD 57107-0145

(800) 987-5521

Date Opened:	08/12/2005
Responsibility:	Individual Account
Account Type:	Revolving Account
Loan Type:	CREDIT CARD

Balance:	$0
Date Updated:	11/30/2007
Payment Received:	$0
High Balance:	$376
Credit Limit:	$250

Pay Status:	Current; Paid or Paying as Agreed
Terms:	Paid Monthly
Date Closed:	11/14/2005

Remarks: CREDIT CARD LOST OR STOLEN

10/2007

09/2007

08/2007

07/2007

06/2007

05/2007

04/2007

03/2007

02/2007

01/2007

Rating

OK

12/2006

11/2006

10/2006

09/2006

08/2006

07/2006

06/2006

05/2006

04/2006

03/2006

Rating

OK

02/2006

01/2006

12/2005

Rating

OK

Request an investigation

Thank you for your taking the time to read, any insight will be appriciated.

Anonymous · ‎01-12-2015

High balance is not relevant to scoring, nor is it any kind of derog. All it means is that at *some point* the balance was $376.

Just let it be. It will age off the end of 2015, ten years after closing.

Anonymous · ‎01-12-2015

Thank you,. What I was concerned is that it is showing a balance higher than its CL. Does it give wrong impression or raise red flags. I just dont see a very good pull in my scores knowing there are only two items. It is still sitting on Trans618. Eqi595, and the evil Exp 578.

Anonymous · ‎01-12-2015

Don't see why it would - credit limits are fluid and tend to change over the life of the account for various. Lenders would generally be aware of this.

jim44 · ‎01-12-2015

+1 I requested to have some of my high CL's reduced on store cards as large purchases were a one time thing. Those cards show a high balance thousands above the CL. Norman's correct, CLs and balances change.

Anonymous · ‎01-12-2015

Ahh now I understand, thank you.

RobertEG · ‎01-12-2015

There is no "legal reporting range" for the account.

The credit report exclusion periods all relate to when a CRA must exclude a derog reported on an account from future credit reports they issue.

It is not a restriction on when a creditor can report information.

Additionally, there are no reported derogs on the account, so no credit report exclusion issues are present.

The continued scoring effect of the account is that it has an age of 9 years and 5 months.

If the is larger than your current avg age of accounts, it is helping in your AAoA calculation.

Being near 10 years from closing, the CRA could decide at any time to delete the account from their records, thus affecting your AAoA.

I see nothing that requires any action by the consumer.

Anonymous · ‎01-12-2015

The continued scoring effect of the account is that it has an age of 9 years and 5 months.

If the is larger than your current avg age of accounts, it is helping in your AAoA calculation.

Being near 10 years from closing, the CRA could decide at any time to delete the account from their records, thus affecting your AAoA.

This is what I wanted to know. Since it is one of the oldest accounts being reported in positive standing, I thought it might have better impact when factored in AAOA. Thank you.