Starting Rebuild - Does It Make Sense to Dispute This?

[picklecat]

Hi everyone - nice to "meet" you!  I am in the process of a credit rebuild as my husband and I are aiming to purchase a home in late 2014/early 2015.  The LO we met with checked out my credit reports, and she was puzzled by an account that only shows up on my Experian report as currently closed.  

I had opened a secured card for $200 with Cap One back in 7/10, once I was offered an unsecured card with them I closed the secured account, that was in 9/11.  (I didn't know a lot about credit reporting back then and thought it was better to close a card I wouldn't be using, I know better now.)  That account is listed on the Ex report as Current Closed, Paid Satisfactory, correct credit limits/payment history and the comments are "Credit line closed-requested by comsumer". All good there.  

The puzzling entry is a second Cap One card listed as opened in 5/11.  The account is listed as Current Closed, the payment status is Current, showing on-time payments through 9/13. The credit limit is listed as $300, and the comments are "Transferred to another lender or claim purchased". I'm really scratching my head over this one, as I know I only had the one secured card until I opened the unsecured card that is still open to this day.  The credit limit is unfamiliar to me as well.  Should I dispute this?  Or is it possible that somehow the secured card double reported? Since I'm working to build my score up, would disputing this be a bad move since it's not a baddie?  (No late payments reported on it at all.)  I'm thinking if I disputed it I would actually take a hit due to the AAoA going down and losing good payment reporting.  It's a real oddity as is only appears on the Ex report.  Thanks for any advice you can give, please let me know if you need more info!

[RobertEG]

My guess would be that the account was bundled as part of a bulk sale of accounts to another creditor.

The new creditor may not have picked up the fact that the card is closed, and reported it as part of theri regular, automated reporting of all accounts.

Is the new creditor listed as the reporting party, or is it showing as having been reported by the original creditor?

If reported by the ortiginal creditor, it looks like a snafu on their part, and I would give them a call.

They have every reason not to be carryng and reporting an account that does not exist.

I would dispute only if you cannot resolve the issue with the reporting party, and then by sending the party who reported a direct dispute.

[picklecat]

Thanks very much - I'll give them a call.  The account is only reported w/Cap One, there isn't another creditor's name associated with the account.  So something wonky may be going on with their reporting.