combining 2 Capital One accounts - will it remove lates from one?

[Anonymous]

I am trying to clean up lates from my DH credit file and he has these lates (accounts are open and in good standing):

CapitalOne (card #1): 5 - 30 day lates (May 2005, Dec 2004); 2 - 60 day late (June 2005)

CapitalOne (card #2): 3 - 30 day lates (Dec 2005); 1 - 60 day late (Jan 2005); 1 - 90 day late (Feb 2005)

We sent a GW via online customer service a few days ago but, I haven't heard anything yet.  I fully expect to get turned down.

But, I was thinking if he were to ask CaptialOne to combine card #2 into card #1 the lates might not follow?  Is this a possibility?

Another question, how can card #2 have 3 - 30 day lates for (Dec 2005)?  I don't understand the way this is reported?

Thanks!

edited card #1 - realized I had recorded DH's Chase acct lates 

Message Edited by headoutofthesand on 05-21-2009 06:27 PM

[Anonymous]

Where are you seeing the 3-30 day lates for one month? There should only be 1 little box for that month, which is marked with the pay status.

Where did the reports come from? Can you copy/paste what you are seeing without including personal information(account numbers)?

As for combining them and the lates following, I don't know about that. I would say the lates would not follow, because even if you combine them, card 2 should still report, just report as closed.

[Anonymous]

Status as of [?] Apr, 2009 Date opened [?] Jul, 2001 Date of last activity [?] Apr, 2009 Date closed [?] Not Reported Account number [?] Not Reported Loan type [?] Not Reported Credit limit [?] $500 Largest past balance [?] Not Reported Terms [?] Not Reported Account Type [?] Revolving Account holder [?] Individual Scheduled payment amount [?] $15

Descriptions [?]

• Credit Card

No contact information provided by Equifax

Balance [?] Current Status [?] Past Due Amount [?] $50 Pays account as agreed Not Reported Seven year payment history [?] 30 days late 3 times (Dec 2005) 60 days late 1 time (Jan 2005) 90+ days late 1 time (Feb 2005) Worst Delinquency [?]

90 days past due

This is from myfico - Equifax

Thanks!

[Anonymous]

Well, that is a new one on me.

I wonder if Dec 2005 was maybe the date of the last or first 30 day?

I'll have to think about this one.

[Anonymous]

Here is info on card #1 - sorry for the format

Status as of [?] Apr, 2009 Date opened [?] Aug, 1999 Date of last activity [?] Apr, 2009 Date closed [?] Not Reported Account number [?] Not Reported Loan type [?] Not Reported Credit limit [?] $500 Largest past balance [?] Not Reported Terms [?] Not Reported Account Type [?] Revolving Account holder [?] Individual Scheduled payment amount [?] $15

Descriptions [?]

• Credit Card

No contact information provided by Equifax

Balance [?] Current Status [?] Past Due Amount [?] $41 Pays account as agreed Not Reported Seven year payment history [?] 30 days late 5 times (May 2005, Dec 2004) 60 days late 2 times (Jun 2005) 90+ days late 0 times Worst Delinquency [?]60 days past due

edited original post, card #1 - realized I had recorded DH's Chase acct lates   This may make the decision easier.  Card #1 has more recent and higher number of lates.

Message Edited by headoutofthesand on 05-21-2009 06:28 PM

[Anonymous]

I think I have figured it out.

The payment history on FICO only goes back to like 2003(Nov 2003 on my accounts). I have an account that has numerous lates on it.

It states I was 30 day lates 10 times, but only list 6 dates. The other 4 lates were prior to Nov 2003(where the payment history key begins showing at), so the other 4 lates are before that time.

Even though it doesn't display the dates of the lates in the summary or in the payment history key, FICO still sees those lates.

So, I'd say the other 2 lates were prior to where the payment history key on FICO begins at.

Clear as mud?

[Anonymous]

Thanks Sidewinder...that mud stinks like poop   I don't think it will be easy to clear these from his reports.  But, nothing ventured, nothing gained!

[Anonymous]

One more note of interest, TU only reports 1 - 30 day late for card #1 and 1 - 30 and 1 - 60 day late for card #2.  I guess I should count our blessings.  But, is it possible for a GW letter to result in more lates being reported to TU (to match Equifax report)?

[Anonymous]

Good news is that the older these get, the less they hurt. They will removed 7 years from date of occurence. Sounds like some of them will be removed soon.

[Anonymous]

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headoutofthesand wrote:
One more note of interest, TU only reports 1 - 30 day late for card #1 and 1 - 30 and 1 - 60 day late for card #2.  I guess I should count our blessings.  But, is it possible for a GW letter to result in more lates being reported to TU (to match Equifax report)?

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Yes, they could add the lates if they aren't over 7 years old.