cancel
Showing results for 
Search instead for 
Did you mean: 

Chase Freedom Card Help.!

tag
Moni209
Contributor

Chase Freedom Card Help.!

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.



Current Score: 4•29 | EQ 666 | TU 673 | EX 666
Goal Score: 730
Message 1 of 10
9 REPLIES 9
BmoreBull
Established Contributor

Re: Chase Freedom Card Help.!

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.


Starting Fico Scores:November 2019

Current Fico Scores: January 6, 2021
Goal Scores: 700 across all three
Message 2 of 10
Moni209
Contributor

Re: Chase Freedom Card Help.!

@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.



Current Score: 4•29 | EQ 666 | TU 673 | EX 666
Goal Score: 730
Message 3 of 10
BmoreBull
Established Contributor

Re: Chase Freedom Card Help.!

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.


Starting Fico Scores:November 2019

Current Fico Scores: January 6, 2021
Goal Scores: 700 across all three
Message 4 of 10
Moni209
Contributor

Re: Chase Freedom Card Help.!

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

D408E7BB-331A-4E66-9AD9-7748F0215B02.png

 



Current Score: 4•29 | EQ 666 | TU 673 | EX 666
Goal Score: 730
Message 5 of 10
Anonymous
Not applicable

Re: Chase Freedom Card Help.!

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.

Message 6 of 10
Moni209
Contributor

Re: Chase Freedom Card Help.!

@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.



Current Score: 4•29 | EQ 666 | TU 673 | EX 666
Goal Score: 730
Message 7 of 10
Moni209
Contributor

Re: Chase Freedom Card Help.!

@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



Current Score: 4•29 | EQ 666 | TU 673 | EX 666
Goal Score: 730
Message 8 of 10
BmoreBull
Established Contributor

Re: Chase Freedom Card Help.!

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.


Starting Fico Scores:November 2019

Current Fico Scores: January 6, 2021
Goal Scores: 700 across all three
Message 9 of 10
elixerin
Established Contributor

Re: Chase Freedom Card Help.!


@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

Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.