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ATTN: All those with Marshall Field's accounts


breathing_easier
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I just pulled a new Equifax report and noted that my open and never late Marshall Field's account of 10 years was reporting as "Pays as Agreed" and "Account Transferred or Sold, Charge" and it was listed under "Closed Accounts." I called the Customer Service number for Marshall Field's (I used the 612-307-5871 number provided on the report, but I know there is also an "800" number). I was told that since Marshall Field's has been sold to The May Company that all the open Marshall Field's accounts have begun reporting like this. The Marshall Field's rep said that they are aware of the error and are working to correct it with the credit bureaus (rep said the problem was on the credit bureau end and not the Marshall Field's end). They don't yet have an estimated time when the error will be fixed. It's a bit worrisome for me as I have only two revolving accounts and Marshall Field's is one of them! I was doing a happy dance after pulling my Equifax report as I'm down to one negative account and was sure that my FICO would be up. Now that I've temporarily lost one very positive revolving account I'm sure that dinged my FICO, probably negating any FICO increase the deletion of three negatives brought. :(

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I just checked TransUnion and sure enough, it says my Marshall Field's account is closed, paid, with a $0 balance owed (I actually owe $224). It has dinged my FICO score by five points. This time called the "800" number for Marshall Field's and they say yes, their records show my account as open with a $224 balance. They are initiating a dispute on my behalf with the bureaus to have my accounts reinstated as open and never late (and it is true that in the 10 years since I opened my account I have never been late with Marshall Field's).

Now time to check Experian...

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Something I just realized...the way Marshall Field's is now reporting on all three of my reports messes up my utilization. I have a $2000 CL with them, but a balance of only $224, a good utilization ratio for FICO. However, without that CL reporting as open, and since I use my cc to capacity each month and then pay it off, it's wrecking havoc with my utilization. Until they get it straightened out I'm not going to use my cc, will just use my debit card.

Okay, I'll stop talking to myself now... 8-)

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Actually, it's good you brought this up.

Pulled my PG and RNB is showing up on EX. This was a account that was charged off, sold and deleted from my reports. But, the new TL reads RNB-3.

Looks like the May company is reporting ALL accounts it acquired, open and closed.

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