On my credit report(s) I noticed (several years ago) that there was an open Bank of America account with a $800 limit and no activity on it. I called one of the credit unions (don’t remember which) and told them that it’s not my account. I never opened it etc… So I’m looking at my credit reports now and see that on all three of them there is a Bank of America account (with an account number) with a $800 limit and never had any activity. According to my reports it was “closed by consumer” after just a few months. So do I bother disputing it or not. On the one hand it’s not my account, I never opened it, it shouldn’t be on my report. On the other hand it’s one of 7 revolving accounts (only 5 currently open) so it can’t be doing that much damage, AND it’s one more account that has no late payments (BTW NONE of my accounts have any late payments). So do I bother with it or leave it alone. Also, before I dispute it, should I call Bank Of America and ask if they can take it off? (hmmm that may be easier then disputing with three CRAs).
Definitely dispute it. You don’t want stuff on your report that isn’t yours, even if it’s not negative. It costs you nothing to dispute the item, and you can do it on each bureau’s website relatively easily. If they can’t confirm with the creditor that the account is yours (or exists at all) then they must remove it.
Unused credit (such as an open account with no activity) can negatively affect your score.
That’s why I was asking, it’s a closed account. As far as anyone else is concerned it WAS one of my accounts, but I don’t currently have access to the money.