Revolving account issues

[lord_kinbote]

When I pulled a CR from all three agencies, I am seeing the following;

EQ - 1 account from capital one that indicates open <shows closed for EX/TU>

EQ /TU- 1 account from DSRM/Valero that shows open

The captail one account.  My wife added my as an AU, and when I found out I told her to remove me because I had some unresolved issues with capital one that were cleared up in a suit against Midland Funding, LLC.  This has been resolved, and the accunt states the following:

Payment Responsbility: Terminated

Date Opened: 6/2011

Balance Date 6/2012

Balance Amount: <blank>

MOnthly Payment: $20

High/Limit: $2500

Account Status: As Agreed

Past Due Amount: $0

When my wife added me, her limit on that account was 2500.  Now it is 6000, so I know that its reporting from a few years back.  How can I get this cleared up?  I just opened some new accounts and I do not need this additional account.  I pulled this information from equifax.com under their Premier Plan.  I also see it under the report I pulled on  myfico.com  However, the myfico.com it is showing as a closed account.

Now in regards to the DSRM/Valero account.  I have not made a payment towards that account since 2006 and it is still showing on my report;

Date Opened: 4/2005

Balance Date: 10/2011

Balance Amount: $0

Account Status: As Agreed

Past Due Amount $0

I really would like to get that one removed.  I am not sure what the 2011 entry is about, so any insight would be appreciate.  

[Burned2manybridgesB4]

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@akula wrote:

When I pulled a CR from all three agencies, I am seeing the following;

EQ - 1 account from capital one that indicates open <shows closed for EX/TU>

EQ /TU- 1 account from DSRM/Valero that shows open

The captail one account.  My wife added my as an AU, and when I found out I told her to remove me because I had some unresolved issues with capital one that were cleared up in a suit against Midland Funding, LLC.  This has been resolved, and the accunt states the following:

Payment Responsbility: Terminated

Date Opened: 6/2011

Balance Date 6/2012

Balance Amount: <blank>

MOnthly Payment: $20

High/Limit: $2500

Account Status: As Agreed

Past Due Amount: $0

When my wife added me, her limit on that account was 2500.  Now it is 6000, so I know that its reporting from a few years back.  How can I get this cleared up?  I just opened some new accounts and I do not need this additional account.  I pulled this information from equifax.com under their Premier Plan.  I also see it under the report I pulled on  myfico.com  However, the myfico.com it is showing as a closed account.

Now in regards to the DSRM/Valero account.  I have not made a payment towards that account since 2006 and it is still showing on my report;

Date Opened: 4/2005

Balance Date: 10/2011

Balance Amount: $0

Account Status: As Agreed

Past Due Amount $0

I really would like to get that one removed.  I am not sure what the 2011 entry is about, so any insight would be appreciate.  

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Ok. The AU account reporting as 'terminated" is reporting correctly. Leave it be. It's not hurting you, and is being factored into your AAOA.

The Valero....why do you want to remove it? It's not reporting negatively, and is also in your AAOA.

They're helping you.

[lord_kinbote]

Good points. Since I have 5 new accounts, I thought it would be negative to have that many revolving account, so that's why I wanted to cleanup a little. I guess 7 revolving accounts would not be horrible? I did not consider the aaoa, especially since the Valero is froom 2005.

[Burned2manybridgesB4]

I have over 30 open/closed. It's all part of a credit file growing, and aging.

[takeshi74]

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@akula wrote:
Good points. Since I have 5 new accounts, I thought it would be negative to have that many revolving account, so that's why I wanted to cleanup a little. I guess 7 revolving accounts would not be horrible?

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The number isn't an issue like you think it is.  More accounts is typically a positive indicator of the trust that creditor have in you though it's considered among the other factors typically involved with assessing credit.  That said, it's certainly possible that a creditor that you're applying to might not be comfortable with the total credit extended to you (and what a creditor is willing to extend willl vary by creditor) but that's not a matter of number of accounts.  There are plenty that have many more revolving accounts than you.  There isn't a fixed number that is the tipping point for everyone.  Number of accounts is more a matter of what you can responsibly manage.

Be careful running on assumption.  There's a lot of info here and on other credit sites that you can leverage to inform yourself.  Don't overlook the stickies in the subforums and existing threads as resources.  Here's just one resource that you might want to start with:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

[lord_kinbote]

Thanks for the information!