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Regular Contributor
Posts: 171
Registered: ‎08-11-2007
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American Signature Furniture CC

I just received an email indicating that the bank that issues American Signature Furniture CC was discontinuing their program effective April 1, 2013.  I have this card and a zero balance.  I am concerned about the effect of this closed account on my credit report.  Should I notify them and request to close so that it is noted as closed at consumers request or let them close on their own.  Need good advice please!  Thank you!

Great Credit is Sexy Smiley Wink EQ 793 / TU 791 / EX 773, 6/2017
Frequent Contributor
Posts: 262
Registered: ‎03-07-2009
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Re: American Signature Furniture CC

I was wondering the same exact thing as i received an email as well. My dilemma though, is that I have a $678 balance on it from a year ago when I purchased my bedroom set. I've initiated a balance transfer to one of my NFCU cards in hopes that the check will get there beforehand. In my experience, it's taken as little as 3 days or as many as 10. I feel they should have given folks more advance notice. a few days prior hardly is sufficient. I really want to close the account myself, but I don't want to with a balance still showing.


Starting Score: 686 TU / 683 EQ 01/17/2013
Current Score: 703 TU / 691 EQ 10/04/2013 / 688 EX 11/12/2013
Goal Score: 700 across all three


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New Visitor
Posts: 1
Registered: ‎04-04-2013
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Re: American Signature Furniture CC

I have the same question and have a zero balance. Please advise.
Frequent Contributor
Posts: 393
Registered: ‎11-06-2008
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Re: American Signature Furniture CC

My account was closed today. I did not receive the email. I searched and found this thread. It did not affect my credit at all; I got the alert but no reduction in scores. I really don't like the note on my report that it is closed by grantor though. Smiley Sad especially having recently acquired Barclays, Discover, and Amex, it makes me uncomfortable. Since Amex and discover have not reported yet, the change in CL will more than offset, but it was really disturbing to get the alert.
WOW! EQ when I joined myFICO: 657. Ups and downs and a few bumps and bruises, but finally back over 700. Whew!

Regular Contributor
Posts: 171
Registered: ‎08-11-2007
0

Re: American Signature Furniture CC

@lisaj, I figured that would happen and it's unfortunate. I did send a letter after writing my original request indicating that I was closing the account and wanted a notation "closed a consumers request". I have since received a confirmation letter from Commenity Bank (credit grantor for AS Furniture) and my updated credit report reflects this. Thus far no drop in my score. You may want to write a letter to them asking if as a good will gesture, that they change the notation on your credit report, particularly if you had an account in good standing. Good luck and update us.
Great Credit is Sexy Smiley Wink EQ 793 / TU 791 / EX 773, 6/2017
Regular Contributor
Posts: 171
Registered: ‎08-11-2007
0

Re: American Signature Furniture CC

Meant to say - after writing my original post on this board.
Great Credit is Sexy Smiley Wink EQ 793 / TU 791 / EX 773, 6/2017
Frequent Contributor
Posts: 393
Registered: ‎11-06-2008
0

Re: American Signature Furniture CC

Thank you. I think I will at least try. It's unfortunate that I missed this thread, but I sure am glad it's here. I was really freaking out when the alert hit and I had no clue. Thank you so much for responding.

I was SERIOUSLY thinking that my DH, who is in major rebuilding mode, triggered it by getting VS with the shopping cart trick last night. I know that's really illogical, but it seemed like too much of a coincidence...so glad it wasn't anything I did. Lol.
WOW! EQ when I joined myFICO: 657. Ups and downs and a few bumps and bruises, but finally back over 700. Whew!

Regular Contributor
Posts: 171
Registered: ‎08-11-2007
0

Re: American Signature Furniture CC

@lisaj, your welcome and good luck!
Great Credit is Sexy Smiley Wink EQ 793 / TU 791 / EX 773, 6/2017

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