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should I update credit reports

bigred
Member

should I update credit reports

I am looking at a big purchase and was wondering if I should update some info on my credit report prior to doing so. I have 2 accounts that I have paid off (yipee). One was a Charge off (so I know that this one should be updated). The other account is closed, but it doesn't show that it is closed on the report. I have paid this one off as well. Will having this account pop up as "closed" hurt me more than showing it is paid off? I opened this account more than 10 years ago. I don't have that many things (as far as revolving credit) on my history, but this one shows that I am at the limit of credit (so it looks like I have maxed it out).
Any help would be greatly appreciated.
Thanks.
 
Message 1 of 3
2 REPLIES 2
HouseHunter
Frequent Contributor

Re: should I update credit reports

You should always clean up your credit reports before making a big purchase.  Dispute everything that is inaccurate with the credit bureaus.
Message 2 of 3
Noah_Bodie
Senior Contributor

Re: should I update credit reports

Closed or open, if it's paid it's a positive TL.
 
Late, charge off, collection, repo and the like are negative TLs.
 
I'm curious what you mean when you say, "One was a Charge off (so I know that this one should be updated)"
Message 3 of 3
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