I'm part of a credit union. I thought I had set up monthly automatic payments from my checking account to my credit card for the monthly fee ($25 each month). Through some way or another, that didn't happen, and I became late on my payments. The credit union closed the credit card account after 3 months (costly lesson). The following day I received my new credit card (chipped), and tried to activate it. This is the point where I found out about the closure.
I went to see the impact on my credit score via credit karma, and some of the data doesn't make sense. It may just be my misunderstanding of how things work/I haven't waited long enough for it to become accurate.
The first discrepancy I noticed is that I no longer have a credit history. My credit card utilization reports no information available, as well as my age of credit history. I am able to see my utilization history (0%), but instead of it being reported as Excellent (0-9%) it's simply unavailable.
The second discrepancy I noticed is that my total accounts increased by 1. Both of them are the credit card account. On one of them (created in Feb 2014) it is reported as lost/stolen, with a Balance of 0, with a current history (no missed payments), monthly payment of 0, and the closed date of April 11, 2016. This account did not exist before the closure.
The other account (which states it was created in June 2014), is reported as closed by credit grantor, with a balance of $958, with 1 missed payment of 30-59 days late, monthly payment of $25, and a closed date of May 10, 2016.
I never had two credit cards, though I did have to get a replacement (for the chip), but that was much more recently. When I went to the online banking application, it only ever reported one credit account.
I'm not blaming the credit union for closing my account, that was all my bad. I should have been more vigilant to make sure things actually were the way I wanted.
Now to my questions.
TL;DR
- Is the data inaccurate, simply because I haven't given enough time for the agencies to talk to each other and figure out which is correct?
- Because (as far as I can tell) some of the data is not really accurate (none of the dates are right, opening dates are wrong), should I file a dispute with both Equifax and Transunion?
- Should I get the actual credit union's data for the credit card first?
- What impact does having a credit utilization history, but no information available about that history have?
- What impact does having a credit utilization history, but no age of credit history have?
- I was not very good at managing my money earlier. I have since remedied my habits. However, because of my behavior, my credit score is very poor (560s). Would getting another credit card, not using the credit card, and making the monthly payments help my to rebuild my credit history? Would it have any significant impact?