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How should we deal with unrated accounts on our credit rpt.


NoMoneyNoHoney
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Hello everyone. A friend of mine has on his credit reports alot of unrated accounts, some stating because account was to new to rate. Others were unrated because, we were thinking it was due to him refinancing this loan for a bigger amount. So after the first loan was closed and paid off with the money he borrowed to get a bigger loan , the account that was refinanced on and then closed was listed as unrated account. The problem is , some of these accounts that is listed as unrated , also have negative comments on them. We were thinking that if an account is neutral by being unrated, and it has negatives on it, then it might be held against you if it is left on the cr.

Can anyone suggest, how he should handle accounts like these that are unrated and have neg, comments on them. Also how should the unrated accounts with no neg be handled also. Thx for your assistance.

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  • 2 weeks later...

I once paid off an unsecured note at my credit union. Made all my payments on time and even paid it off a month early (this was before I was checking my credit on a frequent basis). The credit union had it as unrated.

The boneheads at the credit union gave the run around about why it was unrated even though the previous unsecured loan I had paid was fully reported to the credit union.

You have almost like no leverage once the loan is paid off.

In the end, I still got the chorizo because I could never get the boneheads at the credit union to change their minds and put down all that good credit history.

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