Many people open new credit cards to rebuild credit, transfer balances, etc. If you have opened many new accounts over the last couple of years, your credit score could drop. However, you may consider asking the companies to help regain your credit scores by deleting the perfectly good, but FICO harming, new account tradelines. We hope this gives rise to other ideas for the “Good Will Approach.”
Dear [card company],
I am writing to express how much I enjoy shopping at [store]. I have a question pertaining to a store charge account that I opened in __________. The charge account number is xxxxxxxx.
I opened the store charge in ____________, made a purchase for $$$$, paid the
balance off, and closed the account (in excellent standing) the same month. I
noticed that even though the account was paid and closed before one month, it
was already being reported on my credit reports with the three major credit
bureaus (Experian, Equifax, and Trans Union).
Although the [card company] tradeline is reporting accurately and in excellent
standing, I have noticed that my credit score is being affected negatively by
the addition of this account to my credit report in different ways, since the
credit score rating is influenced by the opening of new accounts and by the
average age of all accounts, which is in itself affected by opening of new
accounts. These are now my top two reason codes on my reports.
Although I do stress that the information being reported IS accurate (I am not
disputing anything with [card company]), I am asking [card company] to do a courtesy
gesture of goodwill to me and instruct the credit bureaus to remove this charge
account, which was opened for less than one month, from my credit reports.
Essentially, I would like to “de-clutter” my credit report, and I don’t want an
account that was opened for only one month present on my credit report, and
decreasing my credit score.
I do recognize that this request is unique and that it may not be normal policy
for[card company]. I have also been told that [card company] *has to* report all accounts,
but I would like to mention that the Fair Credit Reporting Act does *not*
demand that all accounts be reported, but rather – that any account that *is*
reported simply be reported accurately. Therefore, a company does have legal
discretion and permission to remove any account it chooses from the credit
report. I’m hoping that [card company] will do that in my case for this charge card
Therefore, please remove charge account # xxxxxxxx from my credit
reports as a courtesy. Thank you for considering my query. I look forward to
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