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Mega Contributor
Creditaddict
Posts: 18,839
Registered: ‎10-23-2007

Thank you EQ because EX said no!

I dislike how 1 report says "meets requirements" and it's done.

target charged off, settled, AND sent me papers to claim loss as ordinary income on taxes I think the least they can do is not to get to report an entire loss of more than the original balance!!! Score watch gave me this update and it says no score change but in my mind I feel better :smileytongue:

 

1 of your accounts reported changes
TD BANK USA/TARGET CREDIT
(XXXXX0502)
Show/Hide Details
Account opened: 8/2008
Description: Closed or Paid Account/Zero Balance
Settlement accepted on this account
Credit card
 Previously reportedNewly reported
Balance:$0 
Past due:$0$0
Status:Bad Debt; Placed for collection;Pays account as agreed
Last activity:8/1/20128/1/2012
High credit:$2,042$1,500
Description:Settlement accepted on this account
Closed or Paid Account/Zero Balance
Charge off account
Amount in high credit is original charge-off amount
Closed or Paid Account/Zero Balance
Settlement accepted on this account
Credit card
Contact: TD BANK USA/TARGET CREDIT, 3701 Wayzata Blvd, Minneapolis, MN, 554163401
How account changes impact your score:
The following are reasons why a change to an account can cause your FICO® score to go up. (A change to an account in the opposite direction can cause your score to go down.)
  • The status of the account improved. For example, the status went from "60 days past due" to "currently paid as agreed". An improvement in account status demonstrates an ability to pay debts.
  • The balance on the account decreased. Generally, less debt is better for your FICO® score.
  • The amount past due on the account decreased. This demonstrates your ability to meet your financial obligations.
  • The credit limit on the account was raised while the balance stayed the same. Since carrying a balance too close to the credit limit is a sign of a consumer who needs credit and cannot pay it back, a higher credit limit actually helps your FICO® score.
  • The history of late payments or description for this account is revised to be less derogatory. For example, if a late payment on your account was mistakenly reported, correcting this on your credit report may help your score.
Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Valued Contributor
gdale6
Posts: 8,638
Registered: ‎12-13-2013

Re: Thank you EQ because EX said no!

the way it reports now is much better on a manual review

EX Cred Ses 07/14: 770 ; EX Fico 04 V2 06/14: 775; EX Fico 08 07/14 778 ; EX Fico 08 BC 07/14: 800
EQ Fico 05/14 781 ; EQ MPM 07/14: 738
TU Fico 8 07/14: 719; TU MPM 06/14 706
Mega Contributor
Creditaddict
Posts: 18,839
Registered: ‎10-23-2007

Re: Thank you EQ because EX said no!


gdale6 wrote:

the way it reports now is much better on a manual review


That's what I think!

Fico Scores: EQ 639 Navy, TU 665 GE, EX 677 Prosper (07-09-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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