stevem5000 Posted August 21, 2003 Report Share Posted August 21, 2003 Going thru my July 2003 Experian report, and this item has been sitting there for a long time, (years maybe) but after reading posts on this forum, I am curious if this is an example of "re-ageing"Creditor MBGA/JC PENNYDate Opened 3-1975Reported Since 8-1995Date of Status 7-2003Last reported 7/2003Type RevolvingTerms NAMonthly Pmt $0Responsibility Joint with (my wifes name)Credit Limit NAHigh Balance $921Recent Balance NARecent Payment "no entry"Status Details Status: Paid/Never Late This account is scheduled to continue on record until 7-20-2013 Your comment: "Account closed at consumers request"I did have a JC Penny charge card...It was paid in full in 12/96...There were problems, I was unemployed and it took me about 9 months to pay it off...JC Penny closed the account...With this info, questions:1. Why would the Last Reported date be July 2003???...I assume this is a date that JC Penny reported TO Experian the activity on the account...there has been no activity for nearly 7 years...2. Why would the status state: "This account is scheduled to continue on record until 7-20-2013???...I believe the maximum amount of time is 7 years and since I paid the account in full in 12-96 I would assume the time limit would be 7 years from the 12-96 date, or December of this year 2003...Now it appears to another 10 more years...Is this "re-ageing"...can they do this???ThanxSteve Link to comment Share on other sites More sharing options...
kb9tbq Posted August 21, 2003 Report Share Posted August 21, 2003 This account is positive not negative - it is not showing any lates, says paid as agreed.When accounts are considered positive they always report for 10 years.I see there is a discrepency between the time of last activity and when you know you had last paid on this account - but by all means they are not reporting anything negative on this - unless you left something out.I would be happy for someone to re-age a positive account Give you more time for benefiting from the reporting - and contributing to your credit scores. Link to comment Share on other sites More sharing options...
stevem5000 Posted August 21, 2003 Author Report Share Posted August 21, 2003 Thanx Addicted Expert!!!\Appreciate your comments...I'm not going to worry about it...Steve Link to comment Share on other sites More sharing options...
Recommended Posts