GECRB/ShopNBC closed to non-usage

[pazuzu]

So it will be reporting as "closed by credit grantor."

I was going to close the thing "at consumer's request" a while ago when I saw they had cut the CL to the $124 inactive limit. (Anytime a GECRB CL ends in "$24," it indicates the card isn't being used enough for them.) But I clicked the CLI button and they bumped it back to $500. I looked for something to buy, but couldn't find a single thing I could justify purchasing.

Anyway, I have decided it is time to close some more accts. I had been weeding out store cards: PayPal Smart Connect, Wal-Mart, Meijer, and QVC.

I still have 12 CCs, 6 of which are store cards, which I think is too many.

I think Amazon Store Card, Kohl's, and HSN will be next.

I will keep Neiman Marcus and jcpenney b/c they have high CLs.

Also, Neiman Marcus didn't close my acct. during my BK, so it is my oldest reporting CL.

And I am only keeping Fingerhut b/c it was my first post BK acct.

This whole CC/fico score game is getting tiresome, and my BK won't drop of until friggin 2014 (if I live that long.....lol) so I won't get any reasonable interest rates on any new accts. until after that anyway.

[Anonymous]

Your experience brings up an interesting question.  Does it really have any negative impact on your credit if it says closed by grantor?  As long as there are no derogs on the history of that card, I would think it should not matter.

Only 2 years to go before your history becomes much more attractive, it is not that much longer at all

[Chaos122]

how often id you use the card and when was the last time you used it?  Im thining about closing a few store cards also insted of just waiting for them to close for being inactive.

[pazuzu]

I can't rememeber the last time I used that ShopNBC card.

I only opened it b/c i was on an app spree at the time.

NO MORE APP SPREES EVER!!!, I ended up with CCs I didn't want or need.

[delayedinsanity]

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@pazuzu wrote:

This whole CC/fico score game is getting tiresome, and my BK won't drop of until friggin 2014 (if I live that long.....lol) so I won't get any reasonable interest rates on any new accts. until after that anyway.

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red: That bothers you? There's people who are looking down the receiving end of the next ten years... even people half way through are still waiting for 2017. 2014 is in two years, you've already done the hardest part. If the game is getting tiring, stop playing it for a bit and operate under cash, most lenders won't shut you down for a measly couple of months inactivity and there's always something for $10 or less at even the most prestigious of stores.

blue: If you're referring to the 'end of the world' at the end of this year... I hardly think our credit reports will be on anybodies mind. I'm actually rooting for a zombie apocalypse myself. I've got an overstock of zombie sized 40sw rounds just in case. C'mooonnnnnn zombies.

[pazuzu]

I just checked, I haven't used the HSN card since 2008.

I guess they don't care if you use it or not.

I am still going to close it.

Update: DONE.

[pazuzu]

Update #2:

GECRB/Amazon Store Card DONE. CLOSED.

[pazuzu]

Update #3:

Kohl's DONE. CLOSED.

[pazuzu]

Total Closing Spree, incl. involuntary ShopNBC closing:

$5200 less rope to hang myself with.

[MarineVietVet]

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@Anonymous wrote:

Your experience brings up an interesting question.  Does it really have any negative impact on your credit if it says closed by grantor?  As long as there are no derogs on the history of that card, I would think it should not matter.

Only 2 years to go before your history becomes much more attractive, it is not that much longer at all

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It makes no difference whether the account is closed by the consumer or the issuer.