Re: Question about closed bank account & ChexSystems
I had a bank account that was closed with a -$300 balance. The debt was sold to a CA (turning point capital). This item is not on my credit report.
I have 2 questions.
1. Do bank account debts and history not affect the credit score? Do they report to ChexSystems instead of FICO? or both? Am I just lucky this hasn't hit my credit report yet?
2. If I pay the CA and not the original debt holder (the bank), will that get reported to chexsystems improving my score with them?
Thanks... I'm a newbie here so sorry if this has already been addressed somewhere.
1. Yes they do affect it. They often report to both. You are lucky.
2) Paid will make a differnce if you go to open a new account. You can also pull your report from Chexsytems and see what it says.
Starting Score: 504 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.