Credit Tips: Delinquent Credit Card Account

Posted On: November 1, 2004

Author: call_station, Guest
Posted: Thu Nov 20, 2003 12:04 am
Post subject: “Seriously Delinquet Accounts”

I was just looking over the online application for a Bank One Borders/Waldenbooks card. It says that an applicant should be able to say “yes” to 3 statements: no bankruptcies, no denials for credit by Bank One in previous 6 months, and finally no “seriously delinquent accounts” on credit report”. This last one I may have a problem with. What is a seriously delinquent account? On my Equifax report, I have 3 negative items: 2 are student loans with Sallie Mae (actually 2 loans for the same school year). According to the report, I was 90-119 days late on 6/2001. I paid the overdue amount and then the loan was deferred as I entered grad school. The other negative item is another school loan, financed by my undergrad school. The report says I was over 120 days late from 01/1999 to 10/1999 (when I paid the full balance). Both of these accounts are now “Pays as Agreed”. Are these “seriously delinquent acounts”? I realize that all of them were seriously delinquent when they were past due, but they are in good standing now. So how do credit card companies look at these accounts? My only non-student loan credit account is with Bally’s. Do I have a chance at a Bank One (or any other bank) credit card?

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