IF PAYING OFF A CLOSED ACCOUNT WILL IMPROVE MY CREDIT SCORE?

Submitted by misspuff2002 on Thu, 08/05/2010 - 14:25
Forums
Credit repair

I HAVE A PC MASTERCARD WHICH WAS CLOSED SINCE I WASN'T ABLE TO PAY, WITH A BALANCE OF $1500. NOW IT'S $992.00 WILL IT INCREASE MY CREDIT SCORE OR NOT? I HAVE MADE MORE THAN THE MIN PMT AT LEAT 100.00 EVERY TWO WEEKS.

I ALSO WOULD LIKE TO KNOW IF THE COMPANY WOULD BE ABLE TO REPOPEN MY ACCOUNT IF I SEND THEM A LETTER STATING WHY I HAD ISSUES IN THE PAST!...TKS

fireyone

Miss Puff,
Hello and welcome to credit magic. Have you pulled your credit report to see if the account is under negative remarks? Even if it is you could possibly call the company you are paying and ask them to re-open the account since you have been making payments. Ask them if they would possibly consider opening it and listing it current. you also could do this in a letter but I believe you would be better to speak to someone personally.

Thu, 08/05/2010 - 18:35 Permalink
Aaron

Hi misspuff,

Welcome to this community :)

Whether or not your credit score will increase depends on the reporting of the payments. Now, whether or not your payments on a closed account will get reported, depends on the creditor. I think you need to talk to the creditor about this, and request him to reopen the account for you and report the balance that you owe now.

I ALSO WOULD LIKE TO KNOW IF THE COMPANY WOULD BE ABLE TO REPOPEN MY ACCOUNT IF I SEND THEM A LETTER STATING WHY I HAD ISSUES IN THE PAST

This varies from company to company, and person to person. Still, it is always better to try. Remember to get all kinds of agreements in writing.

Thanks,

Aaron

Fri, 08/06/2010 - 05:25 Permalink
crorkz (not verified)

V9xz8b Thanks-a-mundo for the blog post. Really Great.

Tue, 08/05/2014 - 23:34 Permalink