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

New Member

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.
5 REPLIES
Regular Contributor

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

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

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

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

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
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in a credit-scoring postnuclear Stone Age...
Regular Contributor

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

Don't mind at all.  It was Chase.

Don't mind at all.  It was Chase.