New Contributor
Posts: 52
Registered: ‎03-09-2009

Closed CareCredit account by Credit Grantor

Hey guys,


Quick question: Today in the mail I got a letter that my dads CareCredit/GEMB (GE MONEY BANK) account has been inactive for more then 36 months and they hace closed the account due to prolonged inactivity. It says that the credit report will indicated closed by Credit Grantor for this account. I am the authorized user on the account and it does report on my credit history. 


We dont really care that they closed this card since we never use it, my only question is how will it effect, if it will at all, anything on my credit history by it saying that it was closed by credit grantor for this account?


This will not hurt my utilization as i dont have any balances on my other cards. Just worry about it saying that it was closed by credit granton im not sure how that will look on my history.


Will this stay on my credit history for another 10 years untill it comes off?


Thanks for all your answers in advanced. 

Starting Score: TU-775; EQ-799; EX-766
Current Score: TU-775; EQ-828; EX-828
Goal Score: TU-800+; EQ-850; EX-850

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Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007

Re: Closed CareCredit account by Credit Grantor

[ Edited ]

The notation of "closed by credit grantor" on any account on your reports in and of itself does not have any impact on your FICO scores. In general, closed accounts in good standing will continue to report up to ten years from the time the account was closed. 

Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

Valued Contributor
Posts: 1,262
Registered: ‎05-13-2010

Re: Closed CareCredit account by Credit Grantor

Yes it will stay there for another 10 years, but generally, this really does not make a difference anymore, since the credit crisis, these have largely been ignored due to the understanding that everyone was overly-cautious and closing people's accounts left and right.

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