Advice needed please about an entry on my credit report.

[boyne]

Dear people, i rescently obtain my credit report from experian and was surprised to see that on one of my credit cards (egg)the entry was settled and last entry and settlement on 31/7/09

File Updated for the Period to: 02/08/2009 .

I HAVE LATER INFOMATION ON OTHER ACCOUNTS BEING THAT THIS WAS QUITE RESCENT BUT NOTHING FROM EGG SINCE THIS DATE, I DID RECEIVE A LETTER FROM EGG AROUND THIS TIME SAYING THEY WERE NOT GOING TO RE ISSUE ME ANOTHER CARD WHEN MY PRESENT ON RAN OUT AND I AM STILL PAYING EGG BY DIRECT DEBIT THE MINIMUM MONTHLY FEE, SO WHY HAVE THEY PUT SETTLED ON MY CREDIT REPORT AND SHOWING NO MORE ENTRIES FROM THAT DATE, AND WHAT WOULD HAPPEN IF I STOPPED PAYING THE DIRECT DEBIT? SURGESTION OR KNOWLEDGE PLEASE.

[reallymadwoman]

Just to check, it is showing a zero balance? Are they still sending you statements, and has your card now expired?

[boyne]

the card has expired and they did not send another one, it does not show a zero balance rather what my credit limit is/was,(which is more than i owe) doesnt show that i have any credit to spend and is not includeded in the totting up of what available credit i have to spend between my other cards??

[boyne]

the card has expired and they did not send another one, it does not show a zero balance rather what my credit limit is/was,(which is more than i owe) doesnt show that i have any credit to spend and is not includeded in the totting up of what available credit i have to spend between my other cards??

Company name: EGG BANKING PLC

Account type: Credit card / Store card

Started: 10/07/2002

Current Balance : Settled

Credit Limit : £6,390

Settled On : 31/07/2009

File Updated for the Period to: 02/08/2009

Status history:

Summary of payment history: In the last 36 months of account activity, the number of status 1-2 is 0 and

the number of status 3 is 0

Note:

Settled accounts are kept on file for six years from the settlement date. The

status history in respect of a settled account relates to the period of time

prior to the date of settlement.

[Lula]

I wouldnt be worrying about that, it is fine

[boyne]

Dear people, i rescently obtain my credit report from experian and was surprised to see that on one of my credit cards (egg)the entry was settled and last entry and settlement on 31/7/09

File Updated for the Period to: 02/08/2009 .

 

I HAVE LATER INFOMATION ON OTHER ACCOUNTS BEING THAT THIS WAS QUITE RESCENT BUT NOTHING FROM EGG SINCE THIS DATE, I DID RECEIVE A LETTER FROM EGG AROUND THIS TIME SAYING THEY WERE NOT GOING TO RE ISSUE ME ANOTHER CARD WHEN MY PRESENT ON RAN OUT AND I AM STILL PAYING EGG BY DIRECT DEBIT THE MINIMUM MONTHLY FEE, SO WHY HAVE THEY PUT SETTLED ON MY CREDIT REPORT AND SHOWING NO MORE ENTRIES FROM THAT DATE, AND WHAT WOULD HAPPEN IF I STOPPED PAYING THE DIRECT DEBIT? SURGESTION OR KNOWLEDGE PLEASE.

Company name: EGG BANKING PLC

Account type: Credit card / Store card

Started: 10/07/2002

Current Balance : Settled

Credit Limit : £6,390

Settled On : 31/07/2009

File Updated for the Period to: 02/08/2009

Status history:

Summary of payment history: In the last 36 months of account activity, the number of status 1-2 is 0 and

the number of status 3 is 0

Note:

Settled accounts are kept on file for six years from the settlement date. The

status history in respect of a settled account relates to the period of time

prior to the date of settlement.

[boyne]

I wouldnt be worrying about that, it is fine

 

What is fine ? can you explain please

 

Many thanks

[reallymadwoman]

The actual entry is fine - nothing untoward about it - and is actually possibly doing good to your credit score as it's showing as settled which most people would assume means that you've paid it off.

If you stopped paying however you might find that 'settled' gets changes to 'default' really quickly.