These days, there have been so many accounts closed by grantors that I don't know if a future lender will even blink. They probably had a personal account closed on them as well. I have an old account that shows "closed by grantor", and I have never once been questioned about it. I also haven't been denied credit since I started learning how credit works.
For anyone else reading this, just to summarize:
If a card is closed, either by you or by the bank:
-- The account will stay on your reports for ten years after the closing date, although EQ has a way of losing closed accounts early. The account will still contribute to your AAoA during this time, and if it's your oldest account, you'll still have that date as your oldest account until it finally falls off your reports a decade later.
-- If you don't have balances report, or if they're pretty low, or if the CL on the card wasn't a big percentage of your total CL, your util will probably not be affected enough to change your scores.
-- The notations of "closed by consumer" or "closed by grantor" has absolutely no, repeat NO, effect on your FICO scores.
-- A future lender might question the notation, but I seriously doubt it these days. Everyone and his/her pet cat is having CC's closed.
For an enlightening explanation of all this, please read fused's "Closing Credit Cards" linked in my siggy below.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
