Sears cancelled Grandma! I am so freakin p***ed! Read for more info.

[Anonymous]

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@Credit_hawk wrote:

This is off topic but am I the only one who is taken aback that Grandma is only 68? I mean I'm a young guy in my 20s and my 4 grandparents are all at least 85 and up. Just caught my attention that's all. Grandma isn't barely even a senoir citizen. They start young where you're from?

Edit- My girlfriend also in her 20s father is 63.

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Either your girlfriend's parents planned very late or she might be a love child. 

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[elim]

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@bigalkescott514 wrote:

Ok so Grams is like 68 and such against using her credit cards so they only get use when she needs to do home improvements or give my mother loans with her credit card. So my Grams just called me over to her computer to use my credit card to buy a necklace because she is against using hers online. So I was like Grams lets use the Sears MasterCard! And she was like well..I haven't used it in awhile but I don't think it will work. So she opens her trifold and I look at the card....EXP is 07/2015. I said Grams they didn't send the replacement. And she was like I know so we go to register her card online it says no. I call and we talk to them and they told her they closed her for inactivity. You know I understand closing for inactivity but give an old woman a break!! She has been with them since 1983 that is what her card says! So I freak out after she gets off the phone with them and tell her this isn't right so she said they told her she is welcome to reapply. She said we can do that later because she doesn't feel like doing it tonight. Does anyone know if they will give her the age from the old one if she reapplys? I knew something was off a few months ago when her credit score took a hit. I am urging her to use her cards but the only one she is actively using atleast a few times a year is her Discover. 

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   I suggest never freaking out about a closed card as it will most likely happen again in your future (somewhat common around here) and is not personal.   Also, if you don't use a card for a year, it IS right for them to close the card as it's not financially healthy for lenders to have unused, 0 profit, risk extended.

[Anonymous514]

Yeah I'm just gonna have her use 4 commenity cards she has (Roamans, Woman's within, Lane Bryant,and then, Fingerhut which isn't a comenity card) cause those are saying they've been inactive for awhile too. I'm urging her to see she has to use them to keep them because there are times she uses them instead of using actual money.

[Anonymous]

Good deal on having her use other cards. FTR I'm significantly younger than your grams and I freaked out when I had a card canceled for inactvity( mine was 13 months). I had such a hard time using the card that it became clear after a few minutes of thought, that it was for the best. A good useful card would never be canceled for inactivity.

Just a few side notes, if your grandmother carries any kind of  a balance I'd check to  she is eligible for any soft pull CLI to keep her UTIL in check. 2nd, if you're helping her with her credit, expect to see a remark on the closed tradeline that says closed for inactivity. Free sites like Credit Karma report this as a remark and that it could be seen as bad. That remark does nothing to her score and it would probably only come up in an underwriting situation. In those cases it's pretty self explanitory that the card wasn't being used so Sears closed it. Lastly, I know you already said she's using an existing card, but I would not reaply for that card if she ever decides she needs another one.  She will have the benifit of all those years with Sears for 10  more years. For the credit adverse, it makes no since to have cards that can only be used at a specific place. 

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@bigalkescott514 wrote:
Yeah I'm just gonna have her use 4 commenity cards she has (Roamans, Woman's within, Lane Bryant,and then, Fingerhut which isn't a comenity card) cause those are saying they've been inactive for awhile too. I'm urging her to see she has to use them to keep them because there are times she uses them instead of using actual money.

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[Anonymous514]

I don't see Sears on any of her reports which freaks me out because it's card said the Exp was 5/2017 so I have no clue when exactly it was even closed they couldn't even find her in the system. I want her to apply for a soft CLI with discover but I don't want to risk AA on that account because my mothers carried a 6k balance on it since 2008 and it's only down to 5112$ to make matters worse that's a cash advance that my grandma did at her bank to give my mother money. Gma could easily wipe out the Discover balance but it is my Mothers responsibility to pay it back. Btw Gmas oldest account is 30 something years. Inqs are 3 2 and 3 from car loans. And her AAOA is hovering a little over 15 years.

[mitchblue]

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@bz386 wrote:
Your grandma is 68. Why would she care about her credit score? She doesn't even use the cards she has and chances that she will ever need a mortgage are practically zero.

She didn't use the card and it was closed. Big deal. She clearly doesn't need/want that card.

Give your grandma a break. We understand, you care about credit. She clearly doesn't. Chill.

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She's not dead. My Mom had moved twice after 68, both times needing a mortgage. The 2nd time, 2 years ago (she was 79).

[Anonymous]

I seriously think that the term "closed by credit grantor" is meaningless. Lots of reasons that could show up on an acct. This keeps coming up on this forum that it's a bad thing, that it looks bad in underwriting... Can someone please give one example where this is the case, because I have yet to see it come up.

[Callandra]

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@Anonymous wrote:
I seriously think that the term "closed by credit grantor" is meaningless. Lots of reasons that could show up on an acct. This keeps coming up on this forum that it's a bad thing, that it looks bad in underwriting... Can someone please give one example where this is the case, because I have yet to see it come up.

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I feel like it would only matter under manual review (I doubt the computer differentiates between closed by granitor vs. closed by consumer) and even then, it would be easyto tell an U/W, it was closed due to inactivity. It's not strange at all. I'm also puzzled why people get so upset over "closed by grantor" in the case of closure due to inactivity. 

[Anonymous]

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@Anonymous wrote:
I seriously think that the term "closed by credit grantor" is meaningless. Lots of reasons that could show up on an acct. This keeps coming up on this forum that it's a bad thing, that it looks bad in underwriting... Can someone please give one example where this is the case, because I have yet to see it come up.

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Just to be clear, if it seemed ike I was saying this, I wasn't. When I first saw the remark on my report I freaked so I wanted OP to be prepared and to know that it basicly means nothing. If anyone asks me about it in the morgage process, I'll simply tell them the truth. They closed it because I didn't need or use the credit line. It can hurt if the trade line helped to boost utilization which is why I suggested checking for soft pull CLI eligibility.

[Anonymous]

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@bigalkescott514 wrote:
I don't see Sears on any of her reports which freaks me out because it's card said the Exp was 5/2017 so I have no clue when exactly it was even closed they couldn't even find her in the system. I want her to apply for a soft CLI with discover but I don't want to risk AA on that account because my mothers carried a 6k balance on it since 2008 and it's only down to 5112$ to make matters worse that's a cash advance that my grandma did at her bank to give my mother money. Gma could easily wipe out the Discover balance but it is my Mothers responsibility to pay it back. Btw Gmas oldest account is 30 something years. Inqs are 3 2 and 3 from car loans. And her AAOA is hovering a little over 15 years.

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It may appear as "Citi" or "CBNA" rather than "Sears". Are there any closed Citi accounts on her reports that you can't identify?