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Does OPEN vs CLOSED effect scores?


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I just discovered something interesting. I have been trying to figure out why my Equifax score is so much lower than the others when they sort of have the same information(I said "sort of") but one thing I did notice as I was comparing reports is that ALL of my old CC C/O accounts with Equifax are being reported as OPEN , (some with the balances, most with zero balance and a "transferred to another lender, etc.") whereas with the TU and Experian they are ALL reported as CLOSED C/O. Does anyone know if this matters score wise and if so, how do I get these into a CLOSED status. They are all OC's. I have already blown my investigation with all bureau's with a "not mine" dispute resulting in several deletions. Suggestions?

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It's not so much the reporting as "open" vs. "closed" as it is having the chargeoff itself listed. With that in mind, each CRA has its own "personal credit score" which varies based on their own calculations.

Did you dispute as "should be reported as closed"?

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No, I just ran through like an idiot. I had no idea what I was doing. Found this board after my original dispute. I barely looked at the acccount information at all except to say "not mine". Was just playing around to see if any of them would disappear. Some did. I did not know how involved all this was at the time.

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Yes, lessons learned. I didn't realize that once they "verified" you could not dispute anything else or get the "frivolous" label. Can't I dispute the status? Afraid to try now without asking "permission" from someone on this board that know more than I, (which is almost everyone!) :?:)

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They are supposed to reinvestigate if you supply them with information not presented in previous disputes.

§ 611. Procedure in case of disputed accuracy [15 U.S.C. § 1681i]

(4) Consideration of consumer information. In conducting any reinvestigation under paragraph (1) with respect to disputed information in the file of any consumer, the consumer reporting agency shall review and consider all relevant information submitted by the consumer in the period described in paragraph (1)(A) with respect to such disputed information.

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so if something is disputed once, CRA do not have to investigate it again ?

so for instance if I say its not mine, get this bogus letter saying already investigated, and they ignore me, that is in their right ?

so I can;t write another leter saying its inaccurate ?

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§ 611. Procedure in case of disputed accuracy [15 U.S.C. § 1681i]

(A) In general. Notwithstanding paragraph (1), a consumer reporting agency may terminate a reinvestigation of information disputed by a consumer under that paragraph if the agency reasonably determines that the dispute by the consumer is frivolous or irrelevant, including by reason of a failure by a consumer to provide sufficient information to investigate the disputed information.

However, as I stated before, they are to reinvestigate if you provide them new information and supporting documentation.

Keep in mind, the CRAs are simply warehouses for information. If erroneous information continues to come back "verified" the problem may lie with the reporting creditor supplying the wrong information. If the creditor's information matches yours, and the CRA is verifying the incorrect information, you know they didn't properly perform the verification procedure.

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