Closing an Open Account

[Anonymous]

Hello everyone,

I used to live in an Apartment community 4 years back (2003-2004). It still shows as an Open Account in my credit report. I called the Apartment community and they told me that they can't close the a/c (some stupid reason). If they get a dispute from credit agency then they will inform the agency that the a/c can be closed.

My question is: Do I need to contact each and every Credit Agency to close this a/c or contacting any one of them and they will resolve the issue in all three reports.

Thankx for your time.

[llecs]

Apartments aren't know to report. Is this reporting anything bad (charge-off, lates, etc.)?

And if a good account, why would you want to change it from open to closed?

[Anonymous]

The report doesn't say anything bad. Says "Pays as Agreed". However, when I check my score for Negative Factors it says "Too many open accounts". Thats why I want to close it. I want to apply for a new Costco Amex a/c.

[smallfry]

How many open accounts do you have?

[Anonymous]

I have

Mortgage

Installment (this apartment) -- Lease rental agreement

Revolving -- 3 credit cards

The apartment amounts adds $1010 to my total monthly payments. Which is why, I think, it complains "Too many accounts with Balances". Please advice.

Message Edited by Tom_Jerry on 02-06-2009 11:25 AM

[llecs]

That comment usually is reserved for CCs. What are your CC balances?

[Anonymous]

The total balance for all of my CCs (3 of them) are around $500 

[llecs]

If they each carry a balance, then get one or two (more likely two) to report $0 and I bet the comment will disappear.

[Anonymous]

Thats nice. I will try to use only one and for the rest no activity so that they report $0

Going back to my question:

Do I need to close that old Apartment "Installment" a/c showing $1010 per month

Can I apply for a new Costco Amex CC? I hate using my debit card at Costco. Would like to use a CC and Costco accepts only Amex (I have Visa, MC, Disc but no Amex !!). I also need some rewards from Amex for my Costco purchases.

[llecs]

If that apartment TL is your oldest account, then I would let it be and use it to your advantage for maintaining AAoA.

I've never been to a Costco before. However, I just came back from their website and they have a link on the home page for their Amex. I also checked into payment methods and they do accept Visa, MC, Discover, Amex, and their own CC.