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 Posted: Mon Aug 27, 2007 4:29 pm Subject: Credit Card Reporting |
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I just paid off one of my credit card accounts. The high balance was 855, the credit limit was 200, i was over the limit by 455, now i paid the whole account off and closed the account. But when it reported to the credit breaus, it only reported as satisfied paid but it is still showing the high balance as 855, dont they suppose to show the balance as 0, or does it really matter? is it going to affect my debt ratio, because that is what i am trying to get down by paying off these credit cards.
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shughes0993
Joined: 14 Jun 2007
Posts: 37
Debtcc Points: 1465
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| Posted: Mon Aug 27, 2007 4:48 pm Subject: |
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The account should be listed with a zero balance. Ask the credit company to update the item with the bureaus because it is giving wrong information about your credit history.
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Bony
Joined: 22 Oct 2005
Posts: 291
Debtcc Points: 4207
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| Posted: Mon Aug 27, 2007 5:13 pm Subject: |
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Balance due and highest balance ever held are two different things.
_________________
The only people with whom you should try to get even are those who have helped you.
-John E. Southard
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Morningstar
Moderator
Joined: 06 Feb 2007
Posts: 1653
Debtcc Points: 10696
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| Posted: Fri Aug 31, 2007 8:11 am Subject: |
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That is just showing that the highest balance you ever had was $855. If you look in the 'balance' column, it should say $0.
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mrhender
Joined: 09 Aug 2007
Posts: 47
Debtcc Points: 1397
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