Acct showing open, no pay history

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brantb24
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Acct showing open, no pay history

Postby brantb24 » Mon Mar 02, 2015 2:20 pm

Hello....Been lurking around here and a couple of other sites and have taken many tidbits of advice to recently obtain a couple of approvals for cards.

Brief History:
I had some financial issues several years ago (~15) which resulted in a few defaults. I never declared BK, but in hindsight I wish I had. Long story, won't bore you with it. I had a foreclosure, a couple of credit cards default (Discover, Cap One, Chase). Settled with Discover, Cap One went to collections and I have a PAID judgment on my history from them. Chase just kind of went away.

For the last 7-8 years, I have avoided cards altogether. Basically, just been waiting on baddies to fall off while having only auto loans and my mortgage. But, in efforts to get my scores up, this month I applied for two cards--one with my mortgage company (5/3 Bank) and one with AMEX (Delta Gold). I received approvals of $12.5K and $2K respectively.

Upon reviewing my reports, I noticed that EQ is reporting an OPEN Cap One account with NO payment history from way back (April 2006). Only thing bad showing now is the paid judgment and one late pay on my car loan where just simply failed to log-in and pay the darn thing.

Questions:
1. Would it "re-open" any past wounds (collection attempts) if I applied now to Chase? Since they just sort of disappeared over the years?

2. Do you think it would be worth a call to Cap One to research this "open" account that is reporting? Just wondering if they would consider a credit line on that now after I paid the judgment with them several years ago?

For what it's worth, Experian stated I had a 712 with them when applying for AMEX. My other scores according to CS and CK are roughly low 700's also.

Thanks for any insight. Appreciate the advice!


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Vattené
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Postby Vattené » Thu Mar 05, 2015 4:10 pm

I'm no expert in all the legalities around credit reporting, but I will just share what I would do in your shoes:

1. Poking around accounts in bad standing can reopen collection attempts and ruin efforts to let derogatory stuff just age and fall off of your reports, but that is not happening here with Chase. You just asked about applying for a new account. I think you should be fine in just applying for a new card, but realize even if it's not showing up on credit reports, Chase likely knows all too well for how much you burned them. I don't know about Chase's reputation, but as an example Amex is notorious for being unforgiving to customers on their "blacklist," even decades after the fact. I don't think you have much to worry about as far as reviving old bad accounts, but if you do apply make sure it is for something you really want and be prepared to take a HP for no gain.

2. Are you asking about getting this information corrected in your credit reports? If so, you can start a dispute process with the credit reporting agencies, but be sure you have proof you can submit showing this account was paid.
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

brantb24
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Postby brantb24 » Thu Mar 05, 2015 9:36 pm

Thank you for your input!

I understand your response on #1.

As far as #2 goes....I am not completely sure that the CapOne account that is showing as "open" on the EQ report is the same one that was charged off and then settled by me. Just prior to my dire situation escalating I had two CapOne cards. One with no balance at all. So, it may be that one? Not sure....Here is what it shows on Quizzle:

Account Type: Credit Card
Amount Past Due: --
Scheduled Payment: --
Owner: Individual
Opened Date: Dec 1, 2003
Credit Limit: --
Amount Over Credit Limit: --
High Balance: $0
Original Creditor: --
Account in Dispute No
Balance: $0

Pays account as agreed

Open Account
As of: Apr 1, 2006

I appreciate your input. The documentation for the paid judgment is available if you think a dispute is the way to go, but it sounds like that might not be necessary. EQ is the only place now that the judgment even shows up. Of course it says it is paid.

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Vattené
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Postby Vattené » Fri Mar 06, 2015 11:42 am

I see now, I missed the part where you said the paid judgement was showing. So, this is from a separate account with CapOne? I guess you probably don't have the card associated with this second account in good standing? Or an ability to log on to any sort of online account for access to information on it?
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

brantb24
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Location: Lexington KY

Postby brantb24 » Fri Mar 06, 2015 12:59 pm

No, I don't even know the acct number except the last 4 digits that shows on the report. I didn't even know it was on a report until just recently.

augiedog
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Postby augiedog » Fri Mar 06, 2015 10:37 pm

Discover does not report payments, they only report balances. That's how it shows on my report. Don't know about the others.
American Express: Blue Cash Everyday (10k), Everyday, ; Discover It (7.3k) ; Target (2.1k)

Citi: Diamond (2k) ; Bank of America: Cash Rewards (2.6k) ; Capital One: Quicksilver (3k) , Sony ; Chase: Freedom (3.7k), Slate (3k), (Amazon) ; Barclay Ring ; Synchrony: Walmart MC, Amazon, Ebates

flan
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Postby flan » Sat Mar 07, 2015 7:47 am

augiedog wrote:Discover does not report payments, they only report balances. That's how it shows on my report. Don't know about the others.


Discover reports that a payment was made ("OK" in the box...). A creditor can not report anything at all, and then the payment history shows as blank. BOA does that, and the next time they report, they don't fill in the gaps; most other creditors do.

What's probably happened to the OP is that either capital one forgot to say the account is closed, so it's there as an open account with no activity, or the account actually is open. I'd bet on the first, but who knows. I would do exactly nothing with it. It's helping your age of accounts, and anyone looking at the report will just disregard it, because this happens a lot. (In general, I think it's only fixing negative erroneous information. An account in good standing isn't going to hurt you.)



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