Questions about disputing

Anonymous · ‎12-23-2010

I opened my first credit card (Visa) in February of 2004 through my bank. Earlier this year my bank switched from Visa to MasterCard so on my credit report it looks like I closed one acount and opened a new one in March of 2010. This is by far my oldest account but now looks like it is under a year old while it is actually over 6 years old. I know length of history is a big factor in credit scores and I'm concerned this may be keeping my score lower than it should be.

My question: Am I able to dispute that the opening date be changed to Feb 2004? If so, should I dispute it or leave it be because it may not be disputable or because it's not doing much damage?

Any suggestions/information would be helpful.

AndySoCal · ‎12-23-2010

If the data opened was changed to this year then talk to the bank to correct it. The date opened should not change.

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Anonymous · ‎12-23-2010

Hi according,

and welcome!

If the Visa is reporting closed (or sold or transferred or whatever) with an opening date of Feb 2004; and

the Mastercard is reporting an opening date of March 2010, then it is reporting correctly.

The Visa will continue reporting for another ten (or so) years, and you will benefit from the opening date of that account as long as it is on your Credit Reports - whether it is open or not.

In 10 years, when it ages off, you may see a little hit for losing some of your age (Age of Oldest Account). But at that point, everything else will be ten years older, too!

And when the new MC reported open, you may have seen a drop in your Average Age of Accounts. But it may be very small and inconsequential. DH's 1-2-3 card was just transferred and his AAofA took a very small hit - .2 year if i remember correctly. So, really not much. It will, of course, depend on what other accounts you have reporting.

Hope that's helpful.