General Credit Topics

[nodaysoff]

So I woke up this morning to a lovely alert that my FICO score has decrease.  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??

[llecs]

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.

[Repo-ed]

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

[Epcot]

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

[nodaysoff]

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.

[llecs]

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

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

[webhopper]

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!

[nodaysoff]

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,

[jsucool76]

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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,

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#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. 

[AaroninOakland]

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jsucool76 wrote:

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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,

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#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. 

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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.