My Own credit! - Posted by Kristy-AZ

Posted by michaela-ATL on August 12, 2003 at 15:06:16:

obviously there’s nothing owed on those old accounts or Kristy wouldn’t say, that they’re closed, subsequently anything that’s owed is on her ‘open accounts’ and will therefore bring up her utilization.


My Own credit problem…help! - Posted by Kristy-AZ

Posted by Kristy-AZ on August 09, 2003 at 14:20:44:

Hi everyone,

Here’s my problem. My husband and I have EXCELLENT credit. however, after pulling our reports our scores have dropped to 715 because there are several accounts still showing as open accounts on our report. I closed these accounts a couple years ago! one company CITIbank, can’t even find any record of us.

Plus there is another account that isn’t even ours. It’s my father-in-laws. Good, but still lowering our score.

I can’t get a LIVE person at Equifax, just automated system. I need to get these things off my report ASAP! There are at least 6 items!!All showing as active accounts, when they should be showing as closed! Having these off our report will bring our scores back up to the high 700’s.

Please any help is greatly appreciated!


Re: My Own credit problem…help! - Posted by michaela-ATL

Posted by michaela-ATL on August 11, 2003 at 11:26:39:

like Izzy wrote, it could potentially hurt you to close thos accounts. Your scoring depends very heavily on the length of your credit record. If these are some of your oldest accounts, then that could pull your score down, if they get deleted of the report.

Also, your balance to availabilitly ratio has a big effect. So, if you currently owe10K on your revolving accounts and have a total credit limit of 30K, then you’re utilizing 33%, but if you close some accounts and bring your credit limit to 19K, suddenly you’re above 50% utilization, which will hurt your score.

You will have to weigh those things.


Michaela - Posted by ken in sc

Posted by ken in sc on August 10, 2003 at 12:55:00:

Look for a post by Michaela in Atlanta then email her. She went through hell with the credit companies and got it all staightened out herself. In the process, she learned a lot in regards to your legal rights.


DONT TOUCH! - Posted by Izzy (NY)

Posted by Izzy (NY) on August 09, 2003 at 21:16:47:


if I were you I would NOT dispute or change anything. a score of over 700 means you are in the highest bracket credit0wise, and…

In real life you have NO IDEA if disputing things will make your score higher or lower.

You may be reducing average age of accounts, raising balances to limits ratio… and a slew of other potential issues that will lower your score.

don’t touch. really.

Re: My Own credit problem…help! - Posted by jorge

Posted by jorge on August 09, 2003 at 21:15:47:

but you can go to and get a free trial on their program and dispute whats on there. After a month it should come off since they probably won’t contest it and it has to be removed. I have done that and about 8 things came off. My score went from 620 to 657. Not as good as yours… but I am working on it.

Good luck.


Re: My Own credit problem…help! - Posted by Tom PA

Posted by Tom PA on August 09, 2003 at 21:11:51:

I had the same problem a few years ago. I simply obtained a dispute form from each CRA, filled it out notating the accounts that weren’t mine and were closed, then mailed it in. It took about 60 days but everything cleared up. Of course I wasn’t in a hurry. I think that I got the form online.

I now check about every 6 months to make sure that everything is accurate.

Re: My Own credit problem…help! - Posted by Jasonrei

Posted by Jasonrei on August 09, 2003 at 18:15:23:

I wouldn’t call the credit reporting agency. Call the original creditor. Draw up a document for each of them to sign stating the accounts are closed. Something like “Ms. Kristy, Our records indicate that your account, #123wert, has been closed since 9/2001. Sincerely, Mary Doe, Discover Financial, Customer Service Manager, (291) 432-4567” As for the Citibank, make them note that they have no record of acct #whatever. Fax it to them, have them sign and include their contact info. Ask them to fax it back to you & the credit reporting agencies. Tell them you are trying to get a home loan and you need to have the accurate information reported ASAP. Be nice at first. If that doesn’t work, be a pain in the a$$. I don’t have the CRA’s fax numbers, but you need to call and get them, and maybe contact info for who the dispute should go to. Once you get the faxed letter back from the old creditors, forward them to each of the credit bureaus. Follow up.

Re: My Own credit problem…help!-No Need - Posted by Linda Simms

Posted by Linda Simms on August 09, 2003 at 15:35:12:

Kristy. While clearing these minor items off you credit report may be worthwhile, your present score of 715 is exceptionally high already. There are thousands of investors who would like to have a score so high. Write letters to those active accounts you have closed and include a clearance letter for them to sign and return or request they send a closure notice to the credit services on your report. That should do it. However, they will probably still show on your report as a closed account

Re: My Own credit problem…help! - Posted by Tim (CT)

Posted by Tim (CT) on August 12, 2003 at 12:12:48:

I don’t understand your calculation. Maybe I’m misinterpreting it. I understand how you got to 33% utilization but how did you get to the “above 50%”? If you close some of your “open” accounts where you owe something, then you’re decreasing what you owe. Would they let you close an account without paying it off? I would think they would keep it active because there’s a balance.

Thanks for your input.

Re: DONT TOUCH! - Posted by Credited

Posted by Credited on August 16, 2003 at 14:15:35:

I agree with Izzy. Be careful disputing this. They could start wiping stuff off you credit, and suddenly you are down in the 600, and tne it will be a hassle getting them to put back your good credit info.

Your score is way high. Better than so many. You should be able to get financing at great rates.

Although I am sure you want to have you credit history contain all accurate infor, just be careful because they coulkd do a number on you.

Once a tried the remove the last negative entry in my credit, thinking it would even boost my score some more. Guess what happened. They removed the negative item, BUT they also wiped off a bunch of stuff, and drastically reduced my score.

If I were you and am looking to do any buying, I probably would complete the purchase with my credit as it is first, before deceiding whether to challenge this or not.

Re: DONT TOUCH! - Posted by Tom PA

Posted by Tom PA on August 10, 2003 at 24:07:08:

I disagree. But of course it all depends on what you want. I want an accurate report so I did what I could to make mine that way.

If you want an accurate report then dispute.

If you are worried about your score dropping. Well, then you have to flip the coin and make the decision.

(Mine didn’t seem to get hurt. It’s over 720. Although I don’t know what it was before)