No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
laurenjane wrote:
I just ordered my three reports and scores via www.myfico.com/12 and have some cleaning up to do to get rid of errors, and have faxed off disputes. However, I just noticed that many of my accounts, open and closed, are showing "Not Reported" under Past Due Amount. I do not have ANY past due amounts, so all should be reporting as zero. Is this hurting my score? Also, on some of my closed accounts, the balance is also listing "Not Reported" on closed accounts, which should be zero also. I can see one or two maybe doing this, but my report has nearly all the accountsAlso, there is one account just prior to my BK filing that indicates 3 30 day lates, but only shows two months (May & Aug 2004). The tally includes all three. Should I dispute this as only 2 30 day lates rather than three? They are from mid 2004.I appreciate any thoughts!
RobertEG wrote:
FICO looks at the data contained in your CR. If it is still in there, it is probably run throught the scoring algoithm. Not reported, as far as I know, has no affect on scoring if the account is still active. Not everything, and especially most of the idiotic comments attached to your credit report on "pos" and "neg" things affecting your report, have actual influence in the credit score algorithm.Unless others with more knowledge of the FICO algorithm can share additional light, I would speculate that "not reporting," if the account is still active, may only be a warning that, if the account is not used within the next six months, it may lead to closure by the creditor. I look at it as only an warning of inactivity, and that the creditor may close it if I dont charge a Hershey bar down at the 7/11 in the next month or two. IMHO.
RobertEG wrote:
Cheddar,I stand gratefully rebuked, rightfullty so!!!! and am glad for your clarification.The key to this forum is getting the rifght info out!