Closed CC on Credit Report.

Anonymous · ‎07-10-2008

Hey everyone,

I have a question about some closed CC on my credit report. I have 2 that are closed since last year, and about a year before that i had some lates reported on them. Isn't the rule that after 2 years the lates dont hurt your score as much? but what if the account is closed before the 2 years has passed? does that mean it will just sit on my report hurting my score or will it keep updating?

Thanks for any help.

-JD

Message Edited by JDizzle on 07-10-2008 11:32 AM

llecs · ‎07-10-2008

Whether open or closed, lates effect diminishes with time. Two years is not a magical number. I recently had two 7-yr lates removed (30 and 90) and received a slight increase.

You could GW them. I would compare the age of those accounts to your avg. age. If it is newer than your average age, then it is hurting your overall history. I'm not saying to get it deleted, but it would be worth a shot to GW them. If older, then there's always the risk that the account could get deleted because one CSR misread your letter and deleted it instead of fixing it. If deleted and older than your avg. age, you could see a score drop.

Edit to add....depends also on the severity of the late.

Message Edited by llecs on 07-10-2008 12:23 PM

Anonymous · ‎07-10-2008

Cool thanks for the info.

I GW all them about 4 months ago and was successful with Citi in removeing some lates but that was my only one. I might re-send the letters again and maybe get lucky with another one, thanks.