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Two year old closed account (WebBank) unsolicited removal from EQ

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citymunky
Frequent Contributor

Two year old closed account (WebBank) unsolicited removal from EQ

Today I was notified by MyFico that my FICO8 score dropped by a few points. Upon checking CreditKarma, the recent change that was showed that CreditStacks/Webbank acct (Jasper Card) was removed from my Equifax credit report. The account was opened Jul2021 and closed on Aug 2023 when JasperCard shut down. The account was only 2 years old and closed in good standing, I was expecting the acct to remain on my report for at least 10 years. 

Screenshot 2023-10-11 201827.png

I called EQ to see why the account was removed, but I was told to contact the lender. Since CreditStacks/Jasper Card shut down last yeat, they were recently sold to Absolute Resolution Investments, LLC (ARC), which I will be contacting. If that doesn't work hopfully there is hope with WebBank. 

 

Being that I'm under 740 FICO8 (with EQ), I'm a little upset as every point counts IMO. With the closure of my orginal creditor I hope I don't have to jump thur hoops to get any real help.

 

Rebuilding since 2021


Closed CCs
USAA (Jul 2019| Settled CO), Jasper (Jul21-Jul 2022), Sable {Secured} (Jan22-Jun23), CreditOne Platinum (Jul21-Aug23)

Starting FICO 8 Scores:
Current FICO 8 Scores:

Message 1 of 6
5 REPLIES 5
FireMedic1
Community Leader
Mega Contributor

Re: Two year old closed account (WebBank) unsolicited removal from EQ

Since it was sold. No one there to be the furnisher. Theres no law that says it has to stay on there for 10 yrs.  Sorry it happened. Even good standing closed accounts dissapear before the 10 yr mark at times. Some have accounts still on their reports that were closed 15-20 yrs ago. Good Luck!


Message 2 of 6
citymunky
Frequent Contributor

Re: Two year old closed account (WebBank) unsolicited removal from EQ

So far JasperCard refer me to the company that bought them out, Absolute Resolution Investments, LLC (ARC).  I contacted ARC via phone and e-mail, and they submitted my request to their "development team for review." We'll see what will happens, but I'm not holding my breath.

 

I also contacted WebBank directly, but they are only the lender, only the servicer (Jasper) had access to relevant customer and account information.

Rebuilding since 2021


Closed CCs
USAA (Jul 2019| Settled CO), Jasper (Jul21-Jul 2022), Sable {Secured} (Jan22-Jun23), CreditOne Platinum (Jul21-Aug23)

Starting FICO 8 Scores:
Current FICO 8 Scores:

Message 3 of 6
coldfusion
Community Leader
Mega Contributor

Re: Two year old closed account (WebBank) unsolicited removal from EQ

I'm firmly in the "if you don't ask you don't get, so you might as well ask" camp, just keep your expectations low regarding a beneficial outcome.

 

Can confirm that a falloff after 10 years is not a given either, I have a card that I closed in 2009 still reporting on EX. 

(2/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 4 of 6
SouthJamaica
Mega Contributor

Re: Two year old closed account (WebBank) unsolicited removal from EQ


@citymunky wrote:

Today I was notified by MyFico that my FICO8 score dropped by a few points. Upon checking CreditKarma, the recent change that was showed that CreditStacks/Webbank acct (Jasper Card) was removed from my Equifax credit report. The account was opened Jul2021 and closed on Aug 2023 when JasperCard shut down. The account was only 2 years old and closed in good standing, I was expecting the acct to remain on my report for at least 10 years. 

Screenshot 2023-10-11 201827.png

I called EQ to see why the account was removed, but I was told to contact the lender. Since CreditStacks/Jasper Card shut down last yeat, they were recently sold to Absolute Resolution Investments, LLC (ARC), which I will be contacting. If that doesn't work hopfully there is hope with WebBank. 

 

Being that I'm under 740 FICO8 (with EQ), I'm a little upset as every point counts IMO. With the closure of my orginal creditor I hope I don't have to jump thur hoops to get any real help.

 


There's no requirement that a closed account be continued to be reported to the bureaus.

 

I know a lot of people say that your closed accounts will stay in your report for 10 years or so, but that is not always the case, and there is nothing requiring it to be.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 5 of 6
FireMedic1
Community Leader
Mega Contributor

Re: Two year old closed account (WebBank) unsolicited removal from EQ


@coldfusion wrote:

I'm firmly in the "if you don't ask you don't get, so you might as well ask" camp, just keep your expectations low regarding a beneficial outcome.

 

Can confirm that a falloff after 10 years is not a given either, I have a card that I closed in 2009 still reporting on EX. 


@coldfusionI have one 23 yrs old. Updated again 2018. Smiley Happy


Message 6 of 6
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