Questions about items on Chase Credit Journey

[mcl90]

I ran into a tough time 4 or 5 years ago and ended up with 2 charged off cards with Chase.

Entered a payment plan with the law firm they hired for one and the other they said I had a balance of $1,500 and they never came after me for it. 

I've had a Discover It card for around 3 years and haven't missed a single payment.  I also paid off my student loans.  I make my last payment from larger charge off next month and plan to pay off the other charge off as well.

I'd like to get back in with Chase as well as just rebuild my credit to the best I possibly can.

I signed into my Chase Credit Journey account and have questions about a few things I noticed on there & was hoping I could get some help here:

1. There's a Chase card that is closed showing a balance of $2,300+, which I'm assuming is the second charged off account that I mentioned earlier.  When all of this happened, I spoke to Chase about the larger charger off that they had their law firm handle, and at that time, they said this second account was charged off and the balance was around $1,500 if I remember correctly.  If the account was charged off with a balance around $1,500, why would this be showing $2,300?  How can I accurately check what this should be and get it corrected if need be?
2. For the two charged off Chase accounts, I see that there are 8 late payments for each account, all with different dates and showing corresponding estimated removal dates for each.  If they were charged off why are there late payments continuing to be reported?  Are all of these late payments legitimate?  Is there a way to get this cleaned up?  Do I need to worry about all of these late payment dates falling off or do I only need to worry about the first date of delinquincy for both accounts that were charged off as that's the only date that matters for late payment/delinquincy falling off?
3. Is first date of delinquincy the first date of a reported late payment or the first date the account was reported as charged off?
4. There are two accounts on there with late payments that I don't know about.  How do I confirm that these were actually paid late or never paid?  They are both from retail stores.  Is there any chance of getting these removed even if they're from multiple years ago?  If so, how could I go about trying to do that?  One of them shows up on experian.com as having 2 late payments but paid in full and closed, the late payments are from 2017 & 2018.  The other also shows paid in full and closed, the late payment was back in 2020.
5. Do paid, closed accounts hurt my score?  If so, can I do anything about them?
6. I'd like to get back in with Chase at some point, hopefully sooner than later.  I will be paying off my charged off balances the end of July.  I've read that one of the best way to get back in is to establish a banking relationship with them.  What would constitute a banking relationship for this?  Just opening a checking account and leaving the minimum balance in there?  Opening a checking account and leaving a more substantial amount in there?  What amount would be right?  Do I need to have monthly transactions?
7. Can I get approved for the Amazon card even though it's through Chase once these charged off accounts are paid in full the end of July?
8. Besides opening a checking account with Chase, what else can I do to improve my chances?  Is there an ideal process to follow to get back in with them?

[orangetech]

Here are some answers to your questions, hope this helps!

1. Balance Discrepancy:

Your contract may have provisions for interest and fees to be added, leading to the increased balance. To verify this:

• Check the Debt Validation: Request to see the original contract or agreement.
• Dispute if Needed: If the increased balance is unsupported, dispute it.
• Detailed History: Ask for a detailed history of balance and payments on the account.
• Send Dispute Directly: Send your dispute/validation request directly to the creditor or the collection agency listed on your report.

2. Late Payments on Charged-Off Accounts:

Late payments will continue to report until the account falls off your credit report, even if it's charged off. These payments are just a record of past due payments:

• Accurate Reporting: If the late payments are accurate, they will remain until the entire account is removed.
• Dispute Inaccuracies: If the late payments are not accurate, dispute the information and request account deletion if inaccurate.
• First Date of Delinquency: This is the start date of the 7-year period that the negative account will stay on your report. Note that making any payments within this time restarts the 7-year period.

3. First Date of Delinquency:

The date of delinquency is typically about 30 days after your last payment:

• Example: If you make a payment on August 1st and miss the September 1st payment, the date of first delinquency is September 1st.

4. Unknown Late Payments:

To confirm the legitimacy of the unknown late payments:

• Debt Validation: Request records for these accounts.
• Dispute Inaccuracies: Dispute directly with the credit reporting agencies if the information is not accurate. Provide the documentation received from the debt validation to support your disputes.

5. Impact of Paid, Closed Accounts:

Paid/closed accounts can impact your score based on their payment history:

• Always Paid on Time: These accounts are beneficial to your score.
• Late Payments: If these accounts have late payments, they will negatively affect your score but the impact diminishes over time.
• Review for Accuracy: Dispute any inaccuracies if necessary.

6. Reestablishing a Relationship with Chase:

Building a positive credit history is crucial:

• Positive Credit: Continue to build positive credit.
• Chase Checking Account: Opening a checking account with Chase could be beneficial, especially if you establish a relationship with a local banker.

7. Approval for Chase Amazon Card:

Approval for the Chase Amazon card is possible once the charged-off accounts are paid in full.

8. Improving Chances with Chase:

• Chase Freedom Rise Card: This card could help in rebuilding credit with Chase.
• Chase Checking Account: Having a Chase checking account with a balance can improve your odds of approval, as mentioned on the Freedom Rise page.