Macy's...
I called and asked why I was showing 2 accounts. Apparently when I went into Collection Mode on the account, they closed the first, and reopened a second account, which I paid in full.
They guy on the phone was so cool. He said, "I'm going to get the first accound deleted for you. You can reopen the second account if you decide to."
I can go into the store and pay $99.98 and they will send me a new card, (not that I need it) and I can have the account activated.
This would be helpful, credit score wise, correct? Because it would show me with an open charge account? Just use it periodically to keep it open?
Hi Jessica, I see your user name changed? Or shall I say that yo
Hi Jessica, I see your user name changed? Or shall I say that you have started to use your original name?? :D
You paid something for the second account when it was reopened closing the first one. right?? For what do you have to pay $99.98?
Credit scores rise sharply when you pay the full amount in time. If you keep this account active and do not let it take a negative shape, keeping this account will be a good move. Anyone viewing your file will get an idea of how you have been responsible towards repaying.
Basically that would be my credit limit...Kind of a secured acco
Basically that would be my credit limit...Kind of a secured account, I guess. He also said it would be the same account that shows "Paid" in my credit report, so it wouldn't be a "new" account, and that's good, right?
Yes, nothing seems to hurt your credit if this account is kept o
Yes, nothing seems to hurt your credit if this account is kept open. Will you get anything in writing from the person/company about this card being open? Paperwork is very necessary so that you have records.
They said they would send me a new card because I no longer have
They said they would send me a new card because I no longer have my old one.
They're also going to mail me a letter stating the removal of the first account with the "settled" statement.
Quote:They're also going to mail me a letter stating the removal
Quote:
They're also going to mail me a letter stating the removal of the first account with the "settled" statement |
This can prove to be a very important document for you so that they don't come up with any charges on this account in the later period. Most of the companies do not send anything in writing confirming the closure of the account. Suddenly after sometime, they send a statement saying that you owe some charges because the account was open. You always thought that the account was closed, so the disputing process begins.
Don't give up until you have received the statement in writing.
Account #1 shows a zero balance in my credit report, and it says
Account #1 shows a zero balance in my credit report, and it says, "settled" When it went into collection mode, they gave it a new account #, and that one shows paid.
Account 1 with 'settled' remark is not a good thing for your cre
Account 1 with 'settled' remark is not a good thing for your credit report. When the person said that he will get it removed from your file, make sure that he does it. There is nothing to worry with the second account that shows 'paid'
And bonus to the one that shows paid, is that they are activatin
And bonus to the one that shows paid, is that they are activating that same exact account for me, right? Because I originally opened that account in March of 1999.
YAY! :) I need all the good impact I can get. And to make su
YAY! :) I need all the good impact I can get.
And to make sure I understand, I should keep a small balance on the card, or use it on a regular basis and pay it off...Not just leave it open and zero balance with no payment history?
This stuff is tricky...
I wondered this myself. I checked out my mom's credit report, a
I wondered this myself. I checked out my mom's credit report, and it seemed like it wasn't doing her any good to use it and then pay it off every month. I was wondering, maybe their reporting cycle is every month and a half or two months? So now I am having her use it and pay it off in two months. Kind of like using somebody else's credit as a guinea pig. LOL...glad she doesn't mind!!! :) but I am pretty sure that open account with no payment history will not help you any. But I am not an expert either! :)
~Mary
I wonder if they'd tell me what their reporting cycle is, if I c
I wonder if they'd tell me what their reporting cycle is, if I called them?
I don't have a clue, but I do know this - my boyfriend noticed o
I don't have a clue, but I do know this - my boyfriend noticed on his credit report that his auto loan wasn't reporting on an updated basis. He called them (VW Credit) and let them know, and they updated pretty quickly. So I think they are probably at least aware of what their reporting cycle is. Just my thoughts.....
~Mary