topic Re: Help!!! Edited my response in Credit Cards

Help!!!

kobe2012 — Fri, 14 Sep 2012 01:59:00 GMT

A four year old collection was removed off of my reports last week and today, another collection showed up from the same account! I was approved for zync over the weekend and i wonder if amex will close the account if they see this .... Please advise

Re: Help!!!

nicholasyud — Fri, 14 Sep 2012 02:00:48 GMT

i hope they wont but they already approved your card and process everything .........they probably closed but only if they pull your credit report again

Re: Help!!!

kobe2012 — Fri, 14 Sep 2012 02:32:48 GMT

@nicholasyud wrote:
i hope they wont but they already approved your card and process everything .........they probably closed but only if they pull your credit report again

lol.... don't they always review new accounts??? (soft pull)??? that would suck if they do..... well, i'd still get to keep the card for show.... lol... anyone else have any thoughts on this?????

Re: Help!!!

nicholasyud — Fri, 14 Sep 2012 02:37:17 GMT

yo quickly used your card as soon as you receive it.......im sure they aint going to cancel your card if you had some balance on it

Re: Help!!!

kobe2012 — Fri, 14 Sep 2012 02:41:53 GMT

@nicholasyud wrote:
yo quickly used your card as soon as you receive it.......im sure they aint going to cancel your card if you had some balance on it

lol, and if they do, would i get backdated in the future??

Re: Help!!!

nicholasyud — Fri, 14 Sep 2012 03:24:30 GMT

i dont have one so that i dont know....but i guess they do....since i heard every1 on this forum state that....

Re: Help!!!

jamesdwi — Fri, 14 Sep 2012 04:46:44 GMT

@kobe2012 wrote:
A four year old collection was removed off of my reports last week and today, another collection showed up from the same account! I was approved for zync over the weekend and i wonder if amex will close the account if they see this .... Please advise

What is the date on the collection? is it still reporting with the old date, if it is old they will most likely ignore it, if its re-aged you have bigger problems. Zync are approved with multiple old collections on the report, i know from experience.

Re: Help!!!

RockinRay — Fri, 14 Sep 2012 12:26:47 GMT

@jamesdwi wrote:
@kobe2012 wrote:
A four year old collection was removed off of my reports last week and today, another collection showed up from the same account! I was approved for zync over the weekend and i wonder if amex will close the account if they see this .... Please advise
What is the date on the collection? is it still reporting with the old date, if it is old they will most likely ignore it, if its re-aged you have bigger problems. Zync are approved with multiple old collections on the report, i know from experience.

+1 - if they do take adverse action, I woul simply give them a call and explain the situation.

Look at it like this, they want your "swipe fees" so it is to their advantage to have you as a card holder.

I think you will be fine in the long run. If it ends up you need to call them, just be honest about what happened.

Re: Help!!!

maiden_girl — Fri, 14 Sep 2012 13:36:33 GMT

THAT HAPPENED TO ME! Well not a collection but an inquiry. I had one removed and got all excited only to have the same one appear again with the same date just a different name...they had to change the inquiry from Chase to JPM Chase...smh...

I think you're fine tho! They have no reason to pull your credit again if they've already approved your card!

Re: Help!!!

kobe2012 — Fri, 14 Sep 2012 13:34:12 GMT

It was a collection that was sold to another collection agency and it shows as most recent!!! opened 08/29/12!!! .... no other info was listed (original creditor, or DOFD from the OC).... am crossing my fingers that it won't affect my amex.... does anyone know if new negatives affect CLI on GE store cards???

Re: Help!!!

gettnthere — Fri, 14 Sep 2012 14:48:18 GMT

@kobe, don't worry about the collection in regards to AMEX. I was in the same exact boat. On june 6 i was approved for Zync and on june 17 i had a collection report that dropped my exp fico by 75 pts and AMEX softed my report 2 days later and every 2 weeks thereafter. They (AMEX) didn't do any AA but they did raise my internal limit so i guess they didnt care about the collection. I did, however, get the collection deleted but that was only like 2 weeks ago. I really wouldn't worry about it as far as AMEX is concerned.
( im on iPhone so please forgive typos and grammar)

Re: Help!!!

jumpinjax — Fri, 14 Sep 2012 14:53:19 GMT

Outshining the master Amex can prove to be a daunting task. I wouldn't worry about them softing you and finding out about the collection, however, with that said, write to the CRA and have them prove the verification of this collection - just don't threaten them, because, I've found that you attract more bees with honey than vinegar..

Re: Help!!!

Anonymous — Fri, 14 Sep 2012 15:18:18 GMT

Instead of worrying about your current creditors taking AA against you id be more worried about getting that collection off the reports. First things first, was the collection removed via CRA dispute? If so they were supposed to notify you prior to re inserting the account (if its the same one)

Re: Help!!!

kobe2012 — Fri, 14 Sep 2012 16:27:42 GMT

No, it wasn't on dispute and i have not gotten any letters from them either...it just disappeared and a new collection agency showed up...and it shows new......(this was 4-5 yrs ago). I thought collectors should send you a letter or contact you first before they report to CRA's?

Re: Help!!!

Anonymous — Fri, 14 Sep 2012 16:38:46 GMT

Sounds like the debt was sold. They have to send you a letter before they try to collect the debt, but they can report it before that. The good news is, everytime debt is sold, it tends to become harder to validate. You might be able to get it removed if they can't properly validate it.

Re: Help!!!

Anonymous — Fri, 14 Sep 2012 19:02:40 GMT

typically you were supposed to recieve a dunning 5 days prior to the new CA reporting. you got lucky with the first CA removing their reporting cause generally what most due is just report as closed with a zero balance and then the new CA would report the amount owed. So you would then have 2 CA's reporting

Re: Help!!!

calihlove75 — Fri, 14 Sep 2012 20:18:06 GMT

@kobe2012 wrote:
It was a collection that was sold to another collection agency and it shows as most recent!!! opened 08/29/12!!! .... no other info was listed (original creditor, or DOFD from the OC).... am crossing my fingers that it won't affect my amex.... does anyone know if new negatives affect CLI on GE store cards???

I *think*, and I might be wrong but I believe they have 30 days to report the DOFD. If it were me, I would be overnighting a request for validation to their addy listed on the credit report.

Re: Help!!!

kobe2012 — Sat, 15 Sep 2012 01:38:20 GMT

thanks for the responses everyone.... I disputed it on my equifax because that is where it is showring, i checked my EX and it's not there (yet).... and I'm not sure bout my TU.... is it possible that they only reported it on EQ??? and never on the other two???

Re: Help!!!

LS2982 — Sat, 15 Sep 2012 01:44:44 GMT

Usually if its on EQ it would already be on EX, TU is slow to report.

Re: Help!!!

kobe2012 — Sat, 15 Sep 2012 01:46:47 GMT

@LS2982 wrote:
Usually if its on EQ it would already be on EX, TU is slow to report.

Yea, that's what I thought since EX is the fastest one.... so, they didn't report it on EX???