I've searched, but no dice... I know it has to have been discussed before though: here goes...


When does the CRA drop the SL from the TL? I have several that were bounced around between companies, with Open Dates of 02/1994 and Last activity of 02/2003. There is a comment: Closed or paid account.
But there is NO DATE in the closed area of the report. (CSC Credit Services)

A) I assume these are closed incorrectly. Do I need to file dispute on the TL for the lack of closed date? Or should I just dispute it entirely to see if it comes off the report?

When do they come off? 7 years from last report date?

anyway, any advice on what to do with all these lines. There are 34 of them like this. Some with no date except a Report Date.


All are in good standing and no lates, nothing. All show $0 balance. I want to take care of them cause I got turned down recently for too many Installment Accounts. When only 2 of them were Active accounts.

7 years from date of last activity. You can try disputing them, but I wouldn't hold my breath. Maybe you should contact whoever's reporting and ask if they will report a closed date.

Yeah, I am as confident as you on this. But what really strikes me... is this one acct.

Sallie Mae: Reported 05/1996 DLA 05/1996.... there is a comment of Closed or Paid/Zero Balance. The balance does show 0 and a High Limit of 3500.

This is still on the report. That is why I am so worried about all the others. Seems like they might go 10 years from DLA as they are allowed on good standing TL's. Hence why I would like the Closed dates.

Accounts in good standing stay ten years or more. If these TLs are in good standing with no negatives, you might want to dispute them.

fla-tan

I have no negatives on any of them. I just hated what amex had put on the denial: too many open installment accts.

Thanks for the input though guys/gals.. I think I am damned if i do and damned if I don't. I will just leave them alone then.

Fla-tan, I'm not sure I agree in this particular case. The incorrect balances are actually hurting the OP. S/he has been denied for credit because these accounts show as open, but they are not.

OP, have you tried calling AmEx and explaining and asking for reconsideration?

I think you are both right. If I dispute with just saying Close date = same as DLA, that would not close any TL's and give me the close dates I need. win both ways that way maybe.

on recon from AMEX. Yeah, that's what I want to do after I figured this out. I hope as last resort I can talk them into a Stud Plat acct as I am a grad student. Maybe they will be more lenient with all the SL's that way.

Actually, fla-tan's point is that if you dispute the TL you may lose it permanently thereby losing age, which may hurt your FICO.

I can understand that concern yes.... What I will do: 1) call Sallie Mae, who brought about this mess when they bought Southwest Student Serv. and see if they will add Dates. If not 2) go ahead and dispute the lines.

I know it's a risk, but I am willing to take it as I have other old TL's. I'll let you know how it goes next month I guess.

Thanks again for input and help.

***************** UPDATE *******************

1) called SallieMae, they would not do anything about updating CRA's. They said I had to dispute the lines with the CRA and then it would be looked into by their company. (general 1-800- India operater line)

2) I disputed the line with reason (other) and please add close date xx/xxxx.
CSC just finished dispute requests today.

3) Sallie mae updated both TU and EQ reports, all my accounts at one time. I never disputed anything but on EQ. They did what they needed to do, they added closed dates. No lines were deleted, so I didn't lose aged TL's.

4) FICO results from myfico - (this is not real helpful, sorry, because in addition to SL TL's being updated, I had 2 new credit cards added to my report this month. I had no revolving acct's before these) This will of course make it impossible to tell what exactly was the effect of the SL and the CC's individually.

The good either way is this... FICO's jumped on TU from 721 to 781 !!!!!!!!!!!!!
EQ from 681 to 781 !!!!!!!!!!!!!

No longer does TU truecredit give me warning of Too many open accounts. So AMEX will be better with me once I ge my revolving acct's a few years.

Again, thank you TxQuiltGirl and fla-tan for you advice and I'm happy to report it paid off.

p.s. now if only I can get my Experian report up since I did do a Rehab in 2001 and have lates still reported from sallie mae. Ex shows 4 180+ lates from 2001 and my FICO is 683. Huge impact, since info is identical to other 2 reports.