Impact of Chase closure on my score?

[Anonymous]

Like many others, Chase closed my card.  I was at about 50% utilization of a $1,500 credit line.  At this time, their website is still showing my 50% available credit and the $1,500 credit line (rather than the expected 0).  My credit reports show the same credit line and available amount, but the status is 'Closed by Grantor".

I'll be continuing to make payments until this is paid off, however is this impacting my score considering the report shows no changes to my available credit?

Also, I wonder if Chase is reporting in this manner for a limited time, and may later report the 0 credit line and negative available credit.

I'm deciding whether to pay off the card in full immediately (which I would love to do, but would be extremely difficult), or just continue with my regular payments.

Any advice?

[guiness56]

Welcome to the forums.

I have posted a thread for you to read about closing credit cards.  That the OC closed it should have the same impact as if you yourself had done it.

Closing Credit Cards

Message Edited by guiness56 on 08-09-2009 10:53 AM

[Anonymous]

Thanks, Guiness.  Obviously not the answer I wanted to hear (my score will indeed take a hit), but thanks for taking the time to respond. 

Message Edited by TommyIndigo on 08-09-2009 11:02 AM

[Anonymous]

chase updates credit reports every 90 days