My wife's transunion report is showing a closed amex account opened in 4/92,last activity 5/03, and closed 5/04 with a $37 balance.There are no derog's,lates or anything else reported but under account holder it states account relationship terminated. This is her oldest account. Should we just send a check to the address and pay it, leave it be, or something else? We're looking at her fine details and this one really puzzles us. The account is not listed on experian or equifax. This account is great for her average age but is having a balance on a closed account a hurting her. thank you.
I had this with Nextbank after they folded. I contested with TU and it was removed. If the bank is still open they will probably take it off. With the small balance and no negatives you might consider if you want it removed.
Thank you for the advice. I know I don't want his tradeline deleted. I'm just wondering if I should pay the $37 balance the card carries. it's had no activity for years and by paying would it keep it on her report for 10 more years? This would be a good thing! Also, in regards to accounts showing ballances, I thought it was bad to have closed accounts showing balances.
In terms of past debts, Amex is pretty easy to work with. Not only are they open to changing their reporting, but they're also open to reopening accounts (e.g. Oasis program). I'd call them and talk to them. Ask how much is owed and mention that $37 is reporting. Then I'd ask if I could pay it and would ask if they are open to reopening the account. If they say "No", then don't fret. If you ever opened an account with them in the future, it would reopen with the org. open date from your first TL with them.
thanks for the advice. She's going to call and see if they'll reopen. the date of last activity is 5/2003 and it was closed 5/2004. If she pays the $37 then she'll have recent activity. Will this keep this account on her credit report for 10 more years or will it go 10 years from one of these earlier dates? This account is great for her aaoa.
thanks for the advice. She's going to call and see if they'll reopen. the date of last activity is 5/2003 and it was closed 5/2004. If she pays the $37 then she'll have recent activity. Will this keep this account on her credit report for 10 more years or will it go 10 years from one of these earlier dates? This account is great for her aaoa.
DOLA won't factor into it unfortunately. It'll still fall off next May if reporting as closed. But good news about Amex is that any future accounts opened would have the org. open date listed on your CR.
