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New Contributor
Sillygirl
Posts: 60
Registered: ‎05-30-2007

Closed Accounts Showing Open on CRAs

I have an auto lease through GMAC that is closed with a zero balance (lease is over) but showing as still open on the Equifax and Experian reports. The detail section shows "Paid account. Zero Balance."
 
I also have a bank loan through our local credit union that is showing open on the open accounts list of my Equifax report, but in the detail section shows it was closed by the credit grantor. I paid the balance in full in Feb 2006.
 
My question, I wrote a letter to GMAC asking them to Goodwill my accounts. I would like to goodwill the credit union loan, but I'm concerned that if they do that they will also show the account as closed and then my utilization (which is already high) will skyrocket because that available credit for the loan will zero out.  Will it hurt my utilization if the account is listed as a "other" and not a revolving account?
 
What's my best course of action? I was planning to call the local branch ans sit down with them to go over my CRA and see if they could correct this and goodwill my baddies. Is that a good idea?
 
Thanks!
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: Closed Accounts Showing Open on CRAs

What exactly are you GWing? Are there late payments? The "Closed by credit grantor" has no impact on your score.
 
As far as util... Installment util means very little. Revolving TLs are the only ones you really need to be concerned about.
New Contributor
Sillygirl
Posts: 60
Registered: ‎05-30-2007

Re: Closed Accounts Showing Open on CRAs

I asked them to GW my late payments.
 
So should I bother asking them to show those accounts as closed? If so, do I ask the creditor or the CRAs for the correction?
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: Closed Accounts Showing Open on CRAs



Sillygirl wrote:
I asked them to GW my late payments.
 
So should I bother asking them to show those accounts as closed? If so, do I ask the creditor or the CRAs for the correction?



I would ask them to report as closed (the creditor). But like I said, score wise it won't make much of a difference.

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