topic Re: Why is closed JC Penny reporting Mthy UPDATED 5/20/23 in General Credit Topics

Why is closed JC Penny reporting Mthy

Eric958 — Wed, 22 Mar 2023 00:19:32 GMT

My JC penny card was closed back in 2018 (60 day late) Although it's closed (paid in full) its still reports every month. I'm sure its holding my score down with the late reporting. No other closed acct has reported since its closing. Is this normal? E!

Re: Why is closed JC Penny reporting Mthy

Eric958 — Wed, 22 Mar 2023 00:39:03 GMT

OMG... so I just called them to ask why they were reporting mthly when the account was paid in full and closed years ago. The gentleman apologized.. asked for my information.. Then state's we will have this removed off ALL CB's hopefully in 24 - 48 hrs. Wait WHAT!!! I never expected this.. I just wanted they to stop updating mthly. Well every little bit helps! E!

Re: Why is closed JC Penny reporting Mthy

JoeRockhead — Wed, 22 Mar 2023 03:02:55 GMT

@Eric958 wrote:
OMG... so I just called them to ask why they were reporting mthly when the account was paid in full and closed years ago. The gentleman apologized.. asked for my information.. Then state's we will have this removed off ALL CB's hopefully in 24 - 48 hrs. Wait WHAT!!! I never expected this.. I just wanted they to stop updating mthly. Well every little bit helps! E!

That's pretty awesome right there, congratulations!

Re: Why is closed JC Penny reporting Mthy UPDATED 5/20/23

Eric958 — Sun, 21 May 2023 02:51:10 GMT

So here's an update: The CSR removed a 30 day late! not the account. Although this account has been closed for some time. (Paid in full) it still updates every month like clockwork.. This is the only closed account that's updating monthly after being closed over a year!! So of course the 60 day late is affecting my scores bigtime...I was hoping there was something I could do. E!

Re: Why is closed JC Penny reporting Mthy UPDATED 5/20/23

FireMedic1 — Sun, 21 May 2023 09:20:23 GMT

Its actually helping your aging metrics for your scores. FICO looks at open and closed accounts. Congrats on the removal of the late. It will fall off +/- 10 yrs. Leave it be.

Re: Why is closed JC Penny reporting Mthy UPDATED 5/20/23

Eric958 — Sun, 21 May 2023 17:26:15 GMT

@FireMedic1 wrote:
Its actually helping your aging metrics for your scores. FICO looks at open and closed accounts. Congrats on the removal of the late. It will fall off +/- 10 yrs. Leave it be.

Kool Thanks @ FireMedic

Re: Why is closed JC Penny reporting Mthy UPDATED 5/20/23

Cory88 — Wed, 24 May 2023 00:02:38 GMT

@FireMedic1 wrote:
Its actually helping your aging metrics for your scores. FICO looks at open and closed accounts. Congrats on the removal of the late. It will fall off +/- 10 yrs. Leave it be.

I thought it was 7 years.

Re: Why is closed JC Penny reporting Mthy UPDATED 5/20/23

Bmom — Wed, 24 May 2023 08:44:55 GMT

@Cory88 wrote:
@FireMedic1 wrote:
Its actually helping your aging metrics for your scores. FICO looks at open and closed accounts. Congrats on the removal of the late. It will fall off +/- 10 yrs. Leave it be.
I thought it was 7 years.

Positive closed accounts stay for around 10, negative for 7

Re: Why is closed JC Penny reporting Mthy UPDATED 5/20/23

FireMedic1 — Wed, 24 May 2023 09:04:10 GMT

@Cory88 wrote:
@FireMedic1 wrote:
Its actually helping your aging metrics for your scores. FICO looks at open and closed accounts. Congrats on the removal of the late. It will fall off +/- 10 yrs. Leave it be.
I thought it was 7 years.

@Cory88 Baddies yes. Positive accounts 10 yrs +/-. Some have closed accounts way past 10 yrs. If they update it. Add another 10. My oldest was closed 20 yrs ago. Updated 2018. Fine with me.

Re: Why is closed JC Penny reporting Mthy UPDATED 5/20/23

Cory88 — Wed, 24 May 2023 15:25:35 GMT

@FireMedic1 wrote:
@Cory88 wrote:
@FireMedic1 wrote:
Its actually helping your aging metrics for your scores. FICO looks at open and closed accounts. Congrats on the removal of the late. It will fall off +/- 10 yrs. Leave it be.
I thought it was 7 years.
@Cory88 Baddies yes. Positive accounts 10 yrs +/-. Some have closed accounts way past 10 yrs. If they update it. Add another 10. My oldest was closed 20 yrs ago. Updated 2018. Fine with me.

Strange, My one fell off after 7 years but that was in 2016 though. I thought only bankruptcy was 10 years and I know one is longer then the other.

Re: Why is closed JC Penny reporting Mthy UPDATED 5/20/23

SouthJamaica — Wed, 24 May 2023 17:46:20 GMT

@Eric958 wrote:
So here's an update: The CSR removed a 30 day late! not the account. Although this account has been closed for some time. (Paid in full) it still updates every month like clockwork.. This is the only closed account that's updating monthly after being closed over a year!! So of course the 60 day late is affecting my scores bigtime...I was hoping there was something I could do. E!

Since you were so successful at getting rid of the 30-day late, why not try to accomplish the same thing for the 60 day late?

Re: Why is closed JC Penny reporting Mthy UPDATED 5/20/23

Eric958 — Thu, 25 May 2023 02:32:22 GMT

@ SouthJamaica Actually when I called I only inquired why they continually were updating the closed account which wouldn't late the 30/60 effects die out over time. The CSR answer was I'll take care of it by removing it! I thought he was talking about removing the account period..I haven't heard of anyone getting a 60 day late removed. If that's possible I may give it a shot!!! E!

Re: Why is closed JC Penny reporting Mthy UPDATED 5/20/23

jbelinc — Sun, 11 Jun 2023 02:35:56 GMT

For some reason ONLY on my Equifax JC Penney and Lowes still report and they have been closed for years. The JC Penney shows it was closed before it opened. It actually closed in 2002. JC Penney closed due to lack of use and I can't remember why Lowes closed.

This account was closed on Nov 1, 1992

SYNCB/JC PENNEYS

Last reported Apr 18, 2017

Opened Nov 11, 1992 (30 yrs, 7 mos)

This account was closed on Mar 1, 2009

SYNCB/LOWES

Last reported Apr 28, 2017

Opened Aug 20, 2008 (14 yrs, 9 mos)