Credit Account still updating after closed for 5 years?

[Anonymous]

Hi,

I have a credit card account that was closed in 10/12 which had one 30 day late payment in 12/2011.  I pulled my report today as I was denied an auto loan and one reason was negative accounts. I only have 2 but this one has been updating every month even though the account was closed and paid off almost 5 years ago.

Does the recent reporting date have a greater impact on my score, than if the date was 10/2012.  I didn't think accounts would be updated once closed and paid in full.

Any insight would be much appreciated.

[Anonymous]

It's not unusual for some CC issuers to send periodic updates to the CRAs on all accounts, including closed ones.

The fact that there is a recent reporting date is not a problem.  What would be a possible concern is if there was something untrue on the account as it appears on the report.

Does it correctly state that the account is closed?  If so, is the Date Closed correct (roughly Oct 2012)?  Does the balance correctly read $0?

If those data are correct, then you should be good to go.  Of course, you do still have that Day 30 late on the reports.  You may want to try to get that removed.  (Although it is true information, it's still possible sometimes to find a friendly creditor who might remove it.) Hop on over to the rebuilding forum and they will be glad to give you some tips about that.

[Anonymous]

Hi,

Thanks for the info.  The information does appear correct.  The only thing is that the creditor was actually responsible for the late payment.  I had entered into a reduced payment plan while out of work, which included automatic payments. it was part of the requirement to enroll in the program. So I figured it was good to go.  I only noticed it as I was reviewing my checking account the following month and noticed that the payment hadn't come out of my account and it was already past the 30 day mark. I really hadn't been to concerned about it but was denied an auto loan by Farm Bureau bank so I decided to look.  I have been approved for other forms of credit without any issue.  I guess Farm Bureau has pretty stringent guidelines.  They do offer very good rates on auto loans

I will check out the rebuilding forums for help .