RE: Closed Accounts

[Anonymous]

Hi Everyone,

I have two pictures to this topic.

The first one is an account that was paid but is closed after paying the obligation.  One question in my head is.  Is this hurting my credit score?  Should I ask the creditor to remove this off my credit report, and how?  Now this is the oldest account. would this hurt my score if I asked this to be removed from my credit report?

Now the second pic,

Is a Best Buy Store card.  I reported my card lost and they closed the account and created a new account.  Is this hurting my score also?

I am trying to improve my scores, so I can finance or lease a car in the future.

My Experian FICO is 593, EQ 563, TU (Unknown)

Thanks,

[Anonymous]

The only effect that the first may have is on credit mix if you  do not have another installment loan. But a car loan will fix that. It is a positive account that is reported correctly and will fall of in 03/2016. the second is a Best Buy store card. I don't think it is hurting. Check the open dates to see if they are the same. If not contact Hsbc and ask them to report the new card with the same open date so you do not lose the account age. With different account ages it might affect your average age of your accounts and thus have an affect on your score.

[Anonymous]

As per the reply, thank you by the way for replying.  The active Best Buy Store card is only showing opened starting in September of 06.

[ngerasimatos]

Lower the balance on that Best Buy account, you are currently using more than 61% of the available credit.

Message Edited by ngerasimatos on 03-10-2008 11:26 PM

[Anonymous]

I been paying $100 per/month for the past 3 months.  I will get it down soon.

So as I was saying could I contact Best Buy credit services to update my new card account from the old card account, and ask them to delete the old record?

[ngerasimatos]

I doubt they will delete the old record, but they may list the open date as the original one.