Transfer/Sold credit card not reported on any CRs

Anonymous · ‎06-24-2008

I just checked my EX and TU credit reports pulled back in February because my EQ report pulled today didn't have a credit card being report.

I have a charged off capital one card only reporting to Equifax (thats scheduled to come off in Oct!). I was set up on a "forgiveness" program where I was paying off the charged off balance with no interest and a portion would go to building a credit line- up to $1000. It was then supposed to be changed to pays as agreed but is a paid charge-off but I didn't get it in writing-my fault, but since it coming off soon and so old I won't worry about it.

It was then sold halfway through to Pearl MC. I have since paid it off in full in December. Shouldn't all of my payments to Pearl be on my report? They have the "forgiveness" credit card on my EQ report as sold/transfer with my last payment in Jan 06 so it would make sense that the company that is was sold to would be reporting it right?

I have a $600 CL, and use it once a month for activity and pay it in full or close to it. Would it help or hurt to ask them to report it? Can I do that?

Anonymous · ‎06-25-2008

You SHOULD worry about the Capital One account...showing PAID/PAYS AS AGREED...that will help you a lot...because you would still keep the history for...10 more years...

Anonymous · ‎06-25-2008

Ok, I didn't know that. I thought it would come off my report for 7 years. Can you explain why it will be on my history for 10 more years? Sorry, I am new to this whole thing.

What is the best way to contact Capital one and ask them to change it? a GW letter? Are they usually responsive to those?

What about the Mastercard? If its not reporting, and I rarely use it, can I close it?

Anonymous · ‎06-25-2008

Positive accounts...stay on reports...for 10 years...after closed...which still helps your credit...because it ages your history...I read Capital One is BAD with COs...are you still in the repayment plan with them???...if so I would contact whichever department that handles that...and explain your situation...kinda like a GW over the phone...but didn't you say they said they would???...

Anonymous · ‎06-25-2008

I see. No, I am not in payment with them anymore. It was transferred/sold to Pearl MC. I paid it off in December.

I only got a verbal from the person who set up my account. I didn't know better at the time to get it in writing, so that was my fault.

Can I still contact them about changing it to pays as agrees if it has been paid off and explain that I was told it would be changed to pays as agrees upon signing up for the forgiveness program? Or would they not even bother since they got their money already?

Anonymous · ‎06-25-2008

You can always try...it's just like a GW...was the account set up with Capital One...or the CA...Capital One probably WILL NOT go back in and change anything...so who was the agreement with???...

Anonymous · ‎06-25-2008

I dealt with Capital One directly. I guess its worth a shot.

Anonymous · ‎06-25-2008

Another question. The DOFD on the capital one account is 10/01, but then EQ also shows "Date major delinquency reported" as 3/2008. What is the difference? Does that affect when it will fall off?

Anonymous · ‎06-25-2008

On you previous EQ reports...was the date of major delinquency sooner...if so...it looks like the account is re-aging with EQ...I would send a copy of the previous...and recent TL...with the sates reported...send to EQ...and dispute as re-aging...looks like the account is supposed to fall off....October 2008...

Anonymous · ‎06-25-2008

FutureMrsL wrote:

Another question. The DOFD on the capital one account is 10/01, but then EQ also shows "Date major delinquency reported" as 3/2008. What is the difference? Does that affect when it will fall off?

If DOFD is 10/01 it will fall off 7-7.5 years from that date.

Don't worry about "Date major delinquency reported" that is just the date that the delinquency was last reported to the CRA, not the actual DOFD.

I believe EQ uses DOLA.......see what that field has.

Having the account showing paid/pays as agreed would help your score. But, if it is coming off in October or shortly after, then it will only help until then.