Hey all,
I currently am working to GW and PFD several marks on my report - preparing to hunt for auto-loans next month sometime.
I have a Chase account that is hurting my score greatly - as it is riddled with late fee's. 7 30-days, 4 60-days and 2 90-days in the last seven years. Most occured in mid 2011.
I have been holding off on paying it off/closing it however due to it being my oldest open account (2004). What can I expect to see when I pay it off and (hopefully) GW it...
My next oldest accounts are 2006 for a student loan and 2008 for a low limit capital one card.
Thoughts?
Starting Score: 520
Is it still listed as open with just lates? Or is it a CO?
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
It is open with lates... However does not have an available balance like a normal CC would...
Chase denied the GW....
I have read mixed things however around how it will report to my credit history if I pay this off. I left $100 on the account so I have enough to pay monthly payments for a while.
So am I correct in saying that if I pay the remaining balance I will be hurt because it is my oldest account - even though on the left it says the account was closed by credit grantor?
At the very worst, it will report as a baddie but will be paid and you can move forward.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
It closed due to it not being a valid card anymore... (it was a old circuit city store card). I have just been paying the minimum payment on it for years... So when I pay it off - it should show paid in full, but will it then hurt me because it is no longer an active account?