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The tricky thing is this. If you were to try to get the closed Alliant account removed, it could result in confusion on the part of Alliant and/or the CRA and result in both the open and closed accounts being removed.
There's no doubt that the extra Alliant account is lowering your AAoA. But that might not be having any effect on your score. If you are curious, you could try computing your AAoA with the extra account added and without. If the difference is (say) 4.6 vs. 4.1, then the new account is having no effect on your score. (FICO will see both as "4".)
There can be some advantage in having an extra account on your profile. It adds another layer of thickness. In nine years from now it will be helping your AAoA as a nine-year old account (if you think your AAoA will likely be less than 8.0 at that time). Some people would argue: hey, to get two installment accounts with NO hard pull, that's a gift!
I think there are pros and cons for the idea of removing. If the attempt at removal results in the open account being deleted too, you can probably fix that as well -- it just may involve more back and forth with Alliant. All depends on how much you care about this.
PS. You also mention that you have found other non-Alliant accounts that are reporting incorrectly. In particular, they report as open but are in fact closed. Are these credit cards?
If the balance on the account correctly reads $0, these are a definite gift from heaven. The accounts will likely stay on your report forever, which will be awesome in 10, 15, 20 years time. (Lots of extra age and extra thickness.) That's my guess because I am almost sure that, unless the creditor wakes up and changes it to closed, then the "falls off ten years after date closed" will never happen -- since on the report they are still open.
I have a student loan that is arguably reporting incorrectly. It's the same loan (it was never re-financed etc.) that I have had since 2001. Between 2001 and 2012 it correctly reported as exactly one loan. But in 2012 the provider switched hands and now it looks as though I have three student loans, all opened in 2001, two of which were closed in 2012. I assure you that I am not going out of my way to fx that error. It's nice to have two additional 16-year old accounts on my reports!
I just noticed that they added a debt protection plan for unemployment to my secured loan. About $12. Should I cancel it? The loan officer mention that they have unemployment protection for the loan but I had no idea it's an optional plan.
I would certainly cancel it. Can we get some feedback from other folks on this? Is Alliant sneaking other kinds of charges or services in to new accounts along with the loan itself?
The loan officer certainly sneaked this in. He was just like "you are also protected in case you are unemployed." Just thought it's a standard protection.
@Anonymous wrote:The loan officer certainly sneaked this in. He was just like "you are also protected in case you are unemployed." Just thought it's a standard protection.
Yup, he made it sound build-in and free "your loan comes with protection", he never mentioned it is optional and there is a fee.
I already mentioned the optional Debt Protection Plan in my post on 5/11 in this thread, seems no one cares or no one got into this. I know anything that is money related or there is a contract, always make sure what you are signing, after 2 signatures, I let my guard down and thought all are required, thus, I signed that plan as well, which is total $63.95 fee to my $1000 loan, I emailed back (email that sent the documents from) same day, 3 business days and nothing, didn't bother to call, read the documents and just mailed a cancellation letter (sample letter from google, then edit a little) this morning. Normally all those protections by default is not chekced like CC, checking and savings, but this one just tells you to sign, probally there is extra option which I am not aware of. Well, they are not going to get me twice!
$64 fee? I applied for $500 loan and the fee is $12. Regardless I'm going to cancel it and it is kind of sketchy for Alliant to do it. I was considering maybe banking with them because of their high savings rate and high mobile check deposit limit. But now defenitely not.
@Anonymous wrote:I would certainly cancel it. Can we get some feedback from other folks on this? Is Alliant sneaking other kinds of charges or services in to new accounts along with the loan itself?
This is scary ... another Wells Fargo I sure hope not.
I just cancelled it. Sent an email to LoanServicing@alliantcreditunion.com. Got a reply within 15 minutes that it's been cancelled.
I paid down to $420 and my first payment went thru on May 15. So i'm down to $71 ish. I tried to cancel the autopayment today May 16, but it's not allowing me to. It's still showing this
'Your loan is currently set up for automatic payment. If you wish to change or cancel the automatic payment, please call us at 800-328-1935 for assistance (Hours: Mon-Fri 7am-7pm CST).'
What should I do???