Late Payments First Premier Bank

[Anonymous]

Hey, everyone!

So First Premier Bank was one of the first credit cards I got as a teen. Extremely stupid considering the annual fee but I didn't know any better. After paying off the card in 2018, I kind of forgot about it because once I racked it up, I just paid the minimum on it until I got serious about my credit score then I paid it off and never used it again.

Well, long story short. I was still being charged the annual fee (they break it up monthly) and I didn't realize. With no auto pay setup on it, I then became late. They eventually closed my account and thankfully didn't send it to collections- just closed it with a $0 balance. But, currently I have 4 consecutive lates with them on my report which is hurting my score.

Since the account is closed, I don't think a goodwill letter will help and additionally, they explicitly state on their website they don't honor goodwill letters anyways.

HOWEVER, I have noticed throughout all three reports, the lates are showing different months. AND, it also reflects my account as being closed in September of 2018 but I have lates going as far as December.

Are they able to continue to report lates after your account is technically closed with a $0 balance listed?

I'm thinking of disputing through Experian in hopes since its closed and has been over a year, they won't care enough to validate the lates or won't have the records any longer. If that doesn't work, I've read people having success with a letter 623 (I believe thats what it is) because of the differences in late payments that are being shown across the agencies.

Do you think I have a fighting chance? The only thing I fear is I'll anger them and they'll come after me for the annual fee/late charges I didn't pay- but I don't know if they could at this point? Regardless, if they did I could pay them- just don't want it to go to collections or something.

We're hoping to buy a house next year and I know after 2 years the late payments don't technically hurt your score any longer but I don't want them to see it and it raise concern. Other than these lates, a 30 day Capital One late and 1 collection I'm hoping to PFD, my report is clear and I'll be credit card debt free by November as well so I'm wanting to get the baddies off ASAP to boost my score substantially. I'm currently sitting at 689 across the board and would really like close to 750 when it comes time to buy a house!

Thanks for any help!

[gdale6]

If they credited it back and closed it, it cannot report late post the month that happened. I would do a direct dispute with the creditor and not with the CRAs. If its a CO you dont want to dispute with the CRAs cause when it updates without a deletion it drops your Fico score. If it closed in good standing with just lates and the balance 0 then that would not apply but FP is known to remove TLs at your request if you can prove wrong info is being reported as the FCRA requires correct info be reported.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Direct-dispute/td-p/2309095

[Anonymous]

Thank you- I read online that you must dispute through the CRA prior to the 623 dispute so I went ahead and filed a dispute through Experian prior to seeing your message. Hopefully it works out in my favor, if not I'll be doing the 623 dispute as directed. Fingers crossed!

[rckstrscott]

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@Anonymous wrote:

We're hoping to buy a house next year and I know after 2 years the late payments don't technically hurt your score any longer but I don't want them to see it and it raise concern. Other than these lates, a 30 day Capital One late and 1 collection I'm hoping to PFD, my report is clear and I'll be credit card debt free by November as well so I'm wanting to get the baddies off ASAP to boost my score substantially. I'm currently sitting at 689 across the board and would really like close to 750 when it comes time to buy a house!

Thanks for any help!

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I think you are on the right track @Anonymous - Let me ask you this: 4 consecutive 30 day late payments? Did they escalate? Are there are 60, 90 or 120 day late payments showing because those absolutely will impact you past 2 years.

Also.. 0 dollar balance. Are you sure it was just closed and not charged off? What does the actual trade line show on the report? The reason I ask is if they charged it off, and it shows a 0 dollar balance, there could be a collection account just waiting to pop on this from someone like PRA or Midland who purchased the bad debt.

I am not assuming the above, but you should double check.

[Anonymous]

Yes, they were consecutive and show 120 days past due. So, that definitely sucks that it'll still hurt me past 2 years so now I really need to get this off! All reports show it as closed and as paid. Even a few months after the 120 day past due marker show as current.