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Account closed by grantor= -16 on FICO

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nodaysoff
Established Member

Account closed by grantor= -16 on FICO

So I woke up this morning to a lovely alert that my FICO score has decrease. Smiley Sad It went from a 629 to 613 because my pepBoys card which was paid as agreed and had a zero balance, closed on me. This actually suck because my score recently went from a 579 to 629. Couple weeks ago I received a letter from GE(pepboys) stating that its been closed, I assumed that it was because they notice I was @ 579? Is there anything that I could or should do to resolve this??

Message 1 of 16
15 REPLIES 15
llecs
Moderator Emeritus

Re: Account closed by grantor= -16 on FICO

You can always call and ask for the reasons why, and then ask them for a reconsideration if you wanted it reopened.

 

You can also check the softs on your reports to see when they pulled last, and then correlate to when they saw what score.

Message 2 of 16
Repo-ed
Senior Contributor

Re: Account closed by grantor= -16 on FICO

They can possibly repoen it within 30 days or something.

 

My DF closed her Dell card that had a 5k CL because their CS sucks.  I told her to call back and try to reopen it, as she'll take a hit to her Util%

 

She called back and they told her they can reactivate the account, so long as it was done so within 30 days.

 

YMMV

5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
2/2023: Experian via Chase United Explorer CC pull - 891
Message 3 of 16
Epcot
Valued Contributor

Re: Account closed by grantor= -16 on FICO

Wow.. sorry to hear that. Definitely agree with previous posters, give them a call!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 849 EX 835 TU 841
Message 4 of 16
nodaysoff
Established Member

Re: Account closed by grantor= -16 on FICO

Thanks for the feedback guy! Yeah this does suck, last year this time I was getting shut down for mortage loans and been working hard on cleaning it up for this years end. Definitly going to give them a call. I havent used that card for almost two years now and dont need it, hut if keeping open will allow me to get back my points so be it. Thanks again for the quick and helpful responses.
Message 5 of 16
llecs
Moderator Emeritus

Re: Account closed by grantor= -16 on FICO


@nodaysoff wrote:
I havent used that card for almost two years now ....


That's likely the cause. Be sure to use your cards every 3-4 months to keep them from being closed.

Message 6 of 16
webhopper
Moderator Emeritus

Re: Account closed by grantor= -16 on FICO

Definately you want to try to use those cards to keep them active...  GE is known for closing accounts or credit limit decreases if the account becomes inactive...

 

Best of luck to you on getting it re-opened!

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 7 of 16
nodaysoff
Established Member

Re: Account closed by grantor= -16 on FICO

So I called and spoke to the sup/manager, she confirmed that a soft pull was done and my score being at a 579 before the 629 jump didnt meet their criteria. She also said once its colaed they cannot reopen the account not even the day after. Slightly piss right now, not sure what to do next,
Message 8 of 16
jsucool76
Super Contributor

Re: Account closed by grantor= -16 on FICO


@nodaysoff wrote:
So I called and spoke to the sup/manager, she confirmed that a soft pull was done and my score being at a 579 before the 629 jump didnt meet their criteria. She also said once its colaed they cannot reopen the account not even the day after. Slightly piss right now, not sure what to do next,

#FewDaysLate

 

If you haven't used the card in 2 years, why are you upset? You weren't using it at all...so it wasn't doing anything for you...

 

The 16 point decrease in your score is likely due to a drop in available credit, causing an increase in your utilization. Nothing that can't be fixed by making a few payments. 

Message 9 of 16

Re: Account closed by grantor= -16 on FICO


@jsucool76 wrote:

@nodaysoff wrote:
So I called and spoke to the sup/manager, she confirmed that a soft pull was done and my score being at a 579 before the 629 jump didnt meet their criteria. She also said once its colaed they cannot reopen the account not even the day after. Slightly piss right now, not sure what to do next,

#FewDaysLate

 

If you haven't used the card in 2 years, why are you upset? You weren't using it at all...so it wasn't doing anything for you...

 

The 16 point decrease in your score is likely due to a drop in available credit, causing an increase in your utilization. Nothing that can't be fixed by making a few payments. 


Agree with you -- GE typically closes account with 2 yrs inactivity (they send out a statement saying as much -- even with a $0 balance the statement will go out or a letter that says the account is about to be closed), the score drop is most likely due to the utilization.

Message 10 of 16
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