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Member
AaroninOakland
Posts: 26
Registered: ‎04-11-2011
0

Re: Account closed by grantor= -16 on FICO

[ Edited ]

However, thinking about it -- I dont think the inactivity closure wouldnt say closed by credit grantor... it would just say closed (in most situations). If your score issue caused the closure and that was an incorrect credit score I would escalate the concern and have them resolve it... but they would most likely require a pull on your credit to ensure the score issue was simply a mistake and not actually correct. Good luck!

Moderator
Revelate
Posts: 9,547
Registered: ‎12-30-2011
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Re: Account closed by grantor= -16 on FICO

[ Edited ]

AaroninOakland wrote:

However, thinking about it -- I dont think the inactivity closure wouldnt say closed by credit grantor... it would just say closed (in most situations). If your score issue caused the closure and that was an incorrect credit score I would escalate the concern and have them resolve it... but they would most likely require a pull on your credit to ensure the score issue was simply a mistake and not actually correct. Good luck!


To my knowledge, reason for card closure has nothing to do with the FICO algorithm.  Also if the lender initiates the close for any reason typically it will be "closed by credit grantor," but that in and of itself isn't a huge negative as it's really pretty common.  Usually the negative leading up to the closure (if it was AA) will be readily apparent to any future UW looking at the card.

 

The likely reasons for the drop:

- As someone stated, probably affected revolving utilization numbers, or possibly the ratio of number of cards showing a balance.

- Dropped the aggregate number of open revolving tradelines past some threshold (2 we think), if there's only one card on a report that generally appears to be a straight negative as compared to two.  Mix of credit calculation would be my guess on the scoring reason, or perhaps it's a bucketing issue.

 

Not certain there's too many others which rationally make sense, but a closure status code isn't one of them AFAIK.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
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Established Member
nodaysoff
Posts: 22
Registered: ‎04-15-2012
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Re: Account closed by grantor= -16 on FICO

Wasnt upset that they closed the account, was more upset that my score dropped

Established Member
nodaysoff
Posts: 22
Registered: ‎04-15-2012
0

Re: Account closed by grantor= -16 on FICO

She mentioned they occassionally do a soft pull to verify that customers are up to there credit standards, or something along those lines. This mightve been done when my score was at 579.......I guess my question now is, would it be a good idea to apply for another credit/charge card? At the moment I dont have any line of credit besides my mortgage......

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Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Account closed by grantor= -16 on FICO

If you only have your mortgage, you are going to need to get some more positive TLs.  Maybe a couple secured cards would help to start with.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Established Member
nodaysoff
Posts: 22
Registered: ‎04-15-2012
0

Re: Account closed by grantor= -16 on FICO

What are some things I need to look at on my end when deciding which CC to apply for? at my current score, Id hate to apply and get denied,


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