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Frequent Contributor
Posts: 301
Registered: ‎10-05-2010
0

Account closed by Creditor

I made a payment to firts premier and it did not go through, I used the wrong account. I was not late on the payment but since it had one payment not go through they closed the account. It says closed on  the score but it still shows as making payments because I still owe them some. Maybe of I slowly pay off the balance it will be good for me? Or is colsed closed and it does not matter?

Established Contributor
Posts: 905
Registered: ‎07-25-2008
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Re: Account closed by Creditor

I would think that if you paid it down then that balance wouldn't

 

count against your UTIL any longer and help your score


Starting Score: 377EQ/350EX/400TU As of 11/2011
Current Score: 620EQ/614EX/612TU As of 01/2013
Goal Score: 700+ across the boards
Frequent Contributor
Posts: 301
Registered: ‎10-05-2010
0

Re: Account closed by Creditor

Yeah, I mean it has said "closed" on it fro three months, So whatever damage was done I assume is done.

Moderator
Posts: 13,890
Registered: ‎04-15-2011
0

Re: Account closed by Creditor

So no lates?  No derogatories?  Just pay it off, in no time it will look like it was closed for inactivity, however it will still add to your AAoA.  It's First Premier, let it go.  :smileyhappy:

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Frequent Contributor
Posts: 301
Registered: ‎10-05-2010
0

Re: Account closed by Creditor

Yeah, it was closed in October. I just reduced my over util to 7% and i got 20 points on Equifax, so I guess it did not do much damage. No lates or derogs.

Moderator
Posts: 13,890
Registered: ‎04-15-2011
0

Re: Account closed by Creditor

It will sit there and add to your AAoA for ten years.  Don't sweat it, time to move on!  Congrats on the increase.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Frequent Contributor
Posts: 377
Registered: ‎03-16-2011
0

Re: Account closed by Creditor

yea its closed but i believe as long as there is a balance the limit is included in the util calc is it not? since its 1st premiere the cl is prob pretty low so it prob want have much impact just something to be aware of

Amx BCE-12000,Amx Zync-NSPL
Barclay's Mastercard-8100
Credit Union Visa-1200
Discover-7900, Khols-1000
Frequent Contributor
Posts: 377
Registered: ‎03-16-2011
0

Re: Account closed by Creditor

this is what i was thinking, its over in the credit card board

http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/td-p/347190


Amx BCE-12000,Amx Zync-NSPL
Barclay's Mastercard-8100
Credit Union Visa-1200
Discover-7900, Khols-1000
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