topic TU Reporting open account as closed - how best to get it reported correctly in General Credit Topics

TU Reporting open account as closed - how best to get it reported correctly

Anonymous — Sun, 05 Apr 2009 20:21:39 GMT

I am learning so much in these forums and hope that someone can answer my question

I have a Kohls account that is open since 2001 EQ and EX are reporting correctly with a small balance and credit limit. However, TU is reporting the same information but saying that the account was closed by consumer.

Kohls/Chase
Accnt 325xxxxx
Act type :revolving
status: Closed
Monthly pymnt : $7
date open : 9/2001
bal: $252
hi bal: $655
Limit: $2000
past due : $0
Status : Unrated
Comment : Account closed by consumer

All the information is correct (if a little out of date - current bal is $-9), but the account is open

I called Kohls CS who said that they only report with Experian (who have the same data plus a 30 day late note from Sept of 2002 - which I have GW'd).

Do I dispute with TU directly online.....?
I am thinking that this cannot be helping my score as I have a balance on a closed account.

TIA
Deb

Re: TU Reporting open account as closed - how best to get it reported correctly

Anonymous — Sun, 05 Apr 2009 20:51:20 GMT

Is this from a report obtained directly from TU?

Kohls hasn't closed your account have they?

If Kohls doesn't report to EQ and TU it wouldn't be on there. Unless they just recently stopped.

If this is the case, when you dispute, chances are the account will be removed.

Re: TU Reporting open account as closed - how best to get it reported correctly

Anonymous — Sun, 05 Apr 2009 22:44:10 GMT

thanks sidewinder

The report was from CCT today - I went back to the full report directly from TU March 09- and the status says

Status as of Mar, 2009

Date opened Sep, 2001

Date of last activity Feb, 2009

Date paid out Not Reported

Date closed Not Reported

Account number XXXXXXX

Loan type Credit Card

Credit limit $2,000

Largest past balance $655

Terms MIN

Account Type Revolving Account

Descriptions

Account closed by consumer

Account holder Individual Account

Scheduled payment amount $7

So then - the comment has the account closed by consumer but with no date reported closed. CCT is picking this up as closed. The Kohls CSR that I spoke with confirmed that the account was open and in good standing - she said that they only use Experian - so why does TU has the account listed at all ?

Should I dispute with TU to have the closed comment removed -

what do you think - is it hurting my score or not - as this is just a comment

Message Edited by ukdebc on 04-05-2009 03:44 PM

Re: TU Reporting open account as closed - how best to get it reported correctly

Anonymous — Sun, 05 Apr 2009 23:10:26 GMT

I'll have to let someone else comment as to whether FICO is actually treating this as a closed account or not. I don't know if they are since there is no date closed or if they are because of the comment.

TU wouldn't be reporting it if Chase/Kohls wasn't reporting to TU.

As of Feb 2009, they were reporting.

If they recently stopped after the last update and you dispute, the account will likely be removed entirely.

I'm going to move this to General Credit Issues and hopfully someone will chime in and answer that other question.

Re: TU Reporting open account as closed - how best to get it reported correctly

Anonymous — Mon, 06 Apr 2009 17:23:03 GMT

bump...

Can anyone let me know whether the comment "Closed by consumer" is counted as a closed account when the account status is not reported.

I want to know if the balance will be considered as on a closed account and be a negative....

Thanks

Re: TU Reporting open account as closed - how best to get it reported correctly

llecs — Mon, 06 Apr 2009 17:41:25 GMT

Have you tried pulling your TU report directly from TU? IMO, CCT's reporting is usually inaccurate, or at least when I used them. Try going to transunion.com. Initiate a dispute (DO NOT dispute) and go through the motions. You'll then have access to a current TU report for free. Look to see if that says closed.

Re: TU Reporting open account as closed - how best to get it reported correctly

Anonymous — Tue, 07 Apr 2009 14:18:13 GMT

I just looked on TU - and it has the same information

Status as of Mar, 2009

Date opened Sep, 2001

Date of last activity Feb, 2009

Date paid out Not Reported

Date closed Not Reported

Account number XXXXXXX

Loan type Credit Card

Credit limit $2,000

Largest past balance $655

Terms MIN

Account Type Revolving Account

Account holder Individual Account

Scheduled payment amount $7

Descriptions

Account closed by consumer

If this comment is not hurting me - then I can just leave it - but as there is a balance shown - I don't want that to count against me.

Another question -from reviewing my TU report I have a BoA card - closed PIF with multiple lates (still GW'ing to see if they will drop) but it is showing on TU as

Status as of Apr, 2008

Date opened Apr, 1990

Date of last activity Sep, 2007

Date paid out Sep, 2007

Date closed Not Reported

Account number XXXX

Loan type Credit Card

Credit limit $25,000

Largest past balance $25,643

Terms Not Reported

Account Type Revolving Account

Account holder Authorized Account

Scheduled payment amount Not Reported

30 days late 0 times

60 days late 0 times

90+ days late 0 times

4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3

2006 2007 2008

Worst delinquncy: 90 days past due

There is no date or count for the 90 days - call TU to find out when it drops, call for for information or leave it - Does the comment count against my score if there are no dates?

thanks

Deb

Re: TU Reporting open account as closed - how best to get it reported correctly

llecs — Tue, 07 Apr 2009 14:31:00 GMT

How old is your AAoA and how old is your oldest TL?

The BofA account is 19 years old. If this is your oldest or one of your oldest, then doing anything, even calling, could seriously hurt your score. IMO, leave it.

The first account you showed is closed. The comment isn't hurting at all. FICO won't factor this into your mix of credit, which could hurt some if it was helping your mix (so as long as you have 2-3 open CCs, then you're OK). It still factors into utilization. Once the balance reaches $0, then it would be removed from utilization calculations. IMO, PIF ASAP. Some creditors opt to charge it off and send it to collections rather than to let a customer make payments.

Re: TU Reporting open account as closed - how best to get it reported correctly

fishbjc — Tue, 07 Apr 2009 16:18:43 GMT

Kohl's reporting to ex must be new....they're on all three of my cra. Does Chase still hold the paper to Kohl's?????

Re: TU Reporting open account as closed - how best to get it reported correctly

Anonymous — Tue, 07 Apr 2009 20:23:10 GMT

@llecs wrote:
How old is your AAoA and how old is your oldest TL? AAoA is 13 years, oldest TL is 22 years

The BofA account is 19 years old. If this is your oldest or one of your oldest, then doing anything, even calling, could seriously hurt your score. IMO, leave it. even with the 90 day late....? .3x 90 days on mar apr may of 03...so a whole year to wait before it drops off. This is the remaining real baddie on my CRA - leaving a couple of 30 days which will drop off in the next few months which I planned to just leave, after 6.5 years I figure 2 x 30 day late is not impacting my score much.

The first account you showed is closed. The comment isn't hurting at all. FICO won't factor this into your mix of credit, which could hurt some if it was helping your mix (so as long as you have 2-3 open CCs, then you're OK). It still factors into utilization. Once the balance reaches $0, then it would be removed from utilization calculations. IMO, PIF ASAP. Some creditors opt to charge it off and send it to collections rather than to let a customer make payments. This account is not closed though - I called Kohls CS to see if somehow they closed it on me - no, open and in good standing. (I did have an earlier account with Kohls that was closed due to fraud - this comment may be left over from that - both accounts started with the same #'s). So if it is not closed - should I send a letter to Kohls asking them to correct the reporting,

Message Edited by ukdebc on 04-07-2009 01:23 PM