Reply
New Member
doubleloop94
Posts: 4
Registered: ‎03-27-2007
0

When a credit card closes your account due to a score dropping!

When a credit card closes your account due to your credit score dropping, does it drop it further? It says in the comments, closed by credit grantor, but everything is current on it.
Regular Contributor
Skiffy
Posts: 252
Registered: ‎03-16-2007
0

I don't believe the "closed by credit grantor"...

I don't believe the "closed by credit grantor" is factored into FICO, but some lenders will weight it on their own internal scoring.
Moderator Emeritus
Brammy
Posts: 5,436
Registered: ‎03-10-2007
0

doubleloop, do you mind sharing who would do such a thing?

doubleloop, do you mind sharing who would do such a thing?
Valued Contributor
TheNewWorldMan
Posts: 2,374
Registered: ‎03-15-2007
0

I wouldn't worry about it too much.  If the account was i...

[ Edited ]
I wouldn't worry about it too much.  If the account was in good standing when it was closed, I don't see why it would hurt your FICO.
 
I would call them up and ask about it.
 
But overall, good riddance to bad rubbish.  If that company was that persnickety about the way it handled your account, you'd have probably had to wait until Doomsday to get a CLI anyway.  If they don't want your business, that's their loss.


Message Edited by TheNewWorldMan on 03-28-2007 02:36 PM
- - - -
in a credit-scoring postnuclear Stone Age...
Regular Contributor
Skiffy
Posts: 252
Registered: ‎03-16-2007
0

The real answer: it depends. If this is an old card and i...

The real answer: it depends.

If this is an old card and it gets closed and your average age (of open accounts) decreases, your score may drop. If it's a newer card and your average age increases, your score may increase.
New Member
doubleloop94
Posts: 4
Registered: ‎03-27-2007
0

Don't mind at all.  It was Chase.

Don't mind at all.  It was Chase.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+