Found a huge error in my credit report from a closed card

I pulled my credit report last month and noticed my oldest card showed as 30 days late even though I paid it off and closed it in 2020. That single mistake dropped my score by about 40 points for no reason. Turns out the bank never updated the status after I settled the balance. I filed a dispute with Experian and they fixed it within 3 weeks. Has anyone else dealt with phantom late payments from old closed accounts?

3 comments

3 Comments

jade5172d ago

Used to blow off credit report checks. Not anymore.

lewis.finley1d ago

@jade517 yeah I used to be the same way honestly. Always thought checking your credit was kind of overblown, like how bad could it really be? But then I found a 60 day late mark on an old card I paid off years ago. Totally wrong. I filed a dispute with TransUnion and it took like a month but they fixed it. Now I check it like twice a year at least. That one mistake messed up my score for way longer than it should have. Good call @jade517, checking is the only way to catch this stuff.

vera_johnson91d ago

My buddy Dave had this happen with his car loan. He paid it off two years ago, everything was fine, then he refinanced his house and the lender found a 30 day late showing from 2019. He never missed a payment on that loan, not once. The bank he used for the car loan got bought out by another bank and apparently they messed up the transfer. It took him six weeks to get it sorted out with Equifax because they kept asking for paperwork he already sent. His mortgage rate ended up higher than it should have been because of that stupid mistake.