Credit Cards

[PittsburgPamela]

I believe that I disputed this years ago that a HSBC credit card was on my CR that I never had.  At the time it said it was open, now it says: 

HSBC Bank

Acct Type: Credit Card - Revolving Terms

Acct Status: Closed

Date Open: 11/1/1999

Terms: Revolving

High Balance: (blank)

Limit: $5.00

Payment Status: Paid satisfactorily

Comments: Credit line closed-grantor request

I read an article about closing credit cards the right way and it says that you want it to show that YOU closed it, not the creditor.  Is this worth disputing?  Could it hurt at all to have a grantor closed account?

[llecs]

I would leave as is. If anything, this account could be helping your average history. Under a manual review, closed by credit grantor could hurt. However, it does say that it was paid. Also, you'd be given a chance to talk about it since the $5 CL would certainly trigger something in a lender's eyes.

[coachhenson]

I just read an article interviewing an upper level manager at Fair Isaacs.

He said that the status of how a card is closed (by consumer or by creditor) doesn't play any factor in calculating your scores.

[athensguy]

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coachhenson wrote:

I just read an article interviewing an upper level manager at Fair Isaacs.

He said that the status of how a card is closed (by consumer or by creditor) doesn't play any factor in calculating your scores.

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We know. The only time it's an issue is if there is a manual review.