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Hello Folks - the Comenity Bank is reporting the TL below for a Blair Card, that went delinquent, but totally paid off. Even though it is paid off, the OC still kept it open and there has been no activity on the account since 2010. I have disputed and sent GW letters to remove the derogs but has not been successful. I don't want to apply for a credit increase now (and reopen the account), so is there any benefit to closing the account? Please find below the TLs as reported to EX and TU:
Cheers, Oyiwaa
@Oyiwaa wrote:Hello Folks - the Comenity Bank is reporting the TL below for a Blair Card, that went delinquent, but totally paid off. Even though it is paid off, the OC still kept it open and there has been no activity on the account since 2010. I have disputed and sent GW letters to remove the derogs but has not been successful. I don't want to apply for a credit increase now (and reopen the account), so is there any benefit to closing the account? Please find below the TLs as reported to EX and TU:
Cheers, Oyiwaa
It is so small I can't read anytthing on it.
When was it opened? If the only reason it is adverse is the lates, they will come off 7 years from each occurence. When the last one comes off it will become a positive account and stay for up to 10 years from the date closed.
Why would you dispute it?
thanks very much -- sorry the image is small - you can actually (double)-click on it to enlarge it. At any rate, it was opened in 2008, had a couple of 60, 90 & 120 day lates, forcing the OC to reduce the credit limit until the balance was paid off. Given that most of the serious lates are about 2 yrs old now, will they still have a negative impact on my scores?
cheers, Oyiwaa
Unfortunately, yes. A 120+ is considered a major derogatory. But since the account is not CO'd or in collections it will remain adversely until the lates are gone.
If it isn't your oldest and you are not worried about AAoA, I would rather have a clean report than a longer history.
It would be 2017 before the last late came off.
Yes, I would rather have a clean history - though my AAoA is about 5 yrs. In order to remove it, should I just keep sending in GWs or dispute (and hope they don't verify or respond)?
Thanks - Oyiwaa
It's an accurate account so I wouldn't dispute. Just keep sending in GW letters.
@guiness56 wrote:It's an accurate account so I wouldn't dispute. Just keep sending in GW letters.
+1