What should I do?

[Anonymous]

A few years ago, while still in college, I applied for a Fifth Third Mastercard and was given a $1500 limit. I had no job/income so I was fine with that.

The following summer I got a very good paying internship (equivalent of about $60k per year) in Chicago. I needed some money to get started there (i.e. first month's rent, etc.) so I went into a branch there and requested a CLI. He told me I should be getting something in the mail.

A week or so later I received a new credit card with a $7k limit, rather than a CLI on my current one, which I did not request. I racked up about $5,000 on that credit card over the course of six months or so and when I returned to school got sick with mono. I wasn't able to work and go to school at once so I chose the school part and fell behind on payments.

Due to embarrassment and no longer being able to pay the bill online once they closed it, I was 120 days late before settling up with them. Currently, I have a small balance (~$500) balance that I can PIF if I so choose.

My question is, not having applied or signed for anything, is there any way to dispute it to have the tradeline deleted or should I just send a GW letter asking them to delete? I would obviously pay the remaining $500 because it is, in fact, my debt.

[Anonymous]

If you dispute, you'll be disputing accurate info (which is a HUGE no-no here).
(Warning: discussing disputing accurate info is against the ToS here and can get your post deleted and/or edited faster than you can say C-R-A)

Even though you did not ask for the higher limit card, you used it. And more than likely, you signed for the purchases. And further, you admit that the debt is yours. I really don't see any way that you can ethically dispute this account.

Plus, if your debt is within SoL, and you dispute or wake that sleeping giant with the pointy stick of disputing, bear in mind that you could find yourself being filed suit against. And a judgment, especially a new one, is even harder to get off your reports and even more damaging than a past charge-off.

Your only option (other than letting it age off your CRs) is to GW the creditor.

[Anonymous]

disputing bad information with the CRAs NEVER helps, let alone disputing accurate information!!!!

I would focus on PFDing - with very soft GW language.

[Anonymous]

Ok. Sorry about that, guys. I have read that before but was not sure if what I was asking fell into the category of disputing accurate information since I would obviously pay the debt that I owe and would just be trying to remove information from my credit report. But, I see what you're saying and will not plan on disputing something that is true.

Just to clear something up, the account is closed but I have been paying as agreed every month for the past year and a half (one year was while I was in college and was only paying the minimum) and my balance remains at about $500 minus what I pay each month until I decide what to do as far as trying to repair this.

That said, does a PFD still work if you are paying each month and it is showing on your credit report as paying as agreed but closed by credit grantor?

I think they know I am going to pay as I have paid about $4000 of it within the last six months and it is not in collections so they still hold many lates over my head if I don't pay.

Is a letter of GW after I pay the remaining $500 the best course of action.

Any other ideas?

[Anonymous]

Have you tried talking to a higher up and trying to get the account opened?

Is this your oldest account? Is this your only account?

I would consider GW'ing the lates, but as for PFD'ing, you would lose all the age associated with it.

[Anonymous]

This is not my only account. It is actually hurting my AAoA. It is about 2.5 years old and I have an Amex that is showing up on my credit report as being opened 24 years ago. I have 2 other cards as well that are hurting my AAoA but need the credit as I travel often for business and don't like paying cash every week for those expenses.