Posts: 14,051
Registered: ‎04-15-2011
Re: Question about closed bank account & ChexSystems
[ Edited ]

insolito wrote:

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+
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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!