topic Re: Chase Freedom Card Help.! in General Credit Topics

Chase Freedom Card Help.!

Moni209 — Fri, 15 May 2020 06:55:12 GMT

Ive had the chase freedom card since 2015 amd in 2017 I had some financial difficulties and was put on a program to pay monthly but they closed the account at that time since I had 30 and 90 days lates on it. So Ive been paying it great ever since and now its the only card reporting a higher UTl all other cards are payed off or 1% UTl, I can pay this chase account off now but Iam afraid that since this account is closed once I pay it off and they close it completely my scores will suffer tremendously! This is one of my oldest accounts. Can someone advise? Should I pay off completely or keep making payments on it!? Please advise.

Re: Chase Freedom Card Help.!

BmoreBull — Fri, 15 May 2020 09:05:46 GMT

When you say it was closed but you’re still making payments , was it charged off or just closed? Is the utilization reporting as if it’s a maxed out card? If the answer to either of those is yes, I would say pay it off. An account closed in good standings would stay on your credit report for 10 years. But you said that this account had lates on it. Those lates will remain for 7 years from the time you incurred them.

Re: Chase Freedom Card Help.!

Moni209 — Fri, 15 May 2020 12:15:42 GMT

@BmoreBull No it was not charged off just closed by chase and the lates were in 2017 it has been perfect payment ever since, the CL was 3k and the balance on it is 1,400 now.

Re: Chase Freedom Card Help.!

BmoreBull — Fri, 15 May 2020 12:27:54 GMT

Have you tried to goodwill the lates? I don’t think Chase is one that does it often, but considering you’ve had excellent payment history with them since then, I’d give it a shot. Good luck.

Re: Chase Freedom Card Help.!

Moni209 — Fri, 15 May 2020 23:04:28 GMT

Update**** My experian report did drop 10 points! Im so mad!!! It updated today with the new balance and lost the points! Anyone know what might've happened? This is what I was afraid of. That was the only update on the report

Re: Chase Freedom Card Help.!

Anonymous — Fri, 15 May 2020 23:20:55 GMT

That screen shot says the account is open, is it still open or once you paid out your plan did they reopen your card? If they reopened you could have a 10 point drop from a few different things associated with that.

Re: Chase Freedom Card Help.!

Moni209 — Fri, 15 May 2020 23:38:55 GMT

@Anonymous yes that is odd that account is actually closed they closed it when I defaulted and put me on a payment plan I paid most of it and left a balance of 73 and this happened.

Re: Chase Freedom Card Help.!

Moni209 — Sat, 16 May 2020 00:00:21 GMT

@Anonymous yes that is odd that account is actually closed they closed it when I defaulted and put me on a payment plan I paid most of it and left a balance of 73 and this happened.

thanks

Re: Chase Freedom Card Help.!

BmoreBull — Sat, 16 May 2020 00:16:41 GMT

Was it updating regularly before ? If not and it just updated you might have gotten penalized for that 60 day late being refreshed. I would contact them and see if they have truly reopened the account and are restoring your original balance.

Re: Chase Freedom Card Help.!

elixerin — Sat, 16 May 2020 01:50:12 GMT

@BmoreBull wrote:
Was it updating regularly before ? If not and it just updated you might have gotten penalized for that 60 day late being refreshed. I would contact them and see if they have truly reopened the account and are restoring your original balance.

@Moni209 wrote:
@BmoreBull No it was not charged off just closed by chase and the lates were in 2017 it has been perfect payment ever since, the CL was 3k and the balance on it is 1,400 now.

i'd imagine since the account is on a current PP it's being regularly updated, albeit "closed". Maybe if it were a CO that'd be the explanation