topic Re: BBVA Closure in Credit Cards

BBVA Closure

Anonymous — Tue, 07 Mar 2017 14:20:38 GMT

I had an NBA BBVA Compass Amex. All payments on time, never over balance, etc... For reasons unknown to me, they decided to close the account.

So, when I check my credit report, it shows the account as current, zero balance, and there's a note that says "Cancelled by credit grantor".

Will the "cancelled by credit grantor" notes have a negative effect on my fico and/or deter future creditor from extending me credit?

Re: BBVA Closure

Anonymous — Tue, 07 Mar 2017 14:25:13 GMT

@Anonymous wrote:
I had an NBA BBVA Compass Amex. All payments on time, never over balance, etc... For reasons unknown to me, they decided to close the account.

So, when I check my credit report, it shows the account as current, zero balance, and there's a note that says "Cancelled by credit grantor".

Will the "cancelled by credit grantor" notes have a negative effect on my fico and/or deter future creditor from extending me credit?

No, it won't have a negative effect. It is not that uncommon for a creditor to close a card and that notation shows on your report. If multiple accounts showed as closed on your report and a potential creditor did a manual review, only then could it be problematic. Just one or two showing closed won't cause you any future problems.

Re: BBVA Closure

Anonymous — Tue, 07 Mar 2017 14:40:19 GMT

Awesome... thank you

Re: BBVA Closure

Anonymous — Tue, 07 Mar 2017 15:59:08 GMT

When was the last time you used your account?

I cancelled a card once but it is noted incorrectly as closed by creditor. I haven't had anything negative happen as a result.

Re: BBVA Closure

Anonymous — Tue, 07 Mar 2017 16:34:49 GMT

Did you not use the account for awhile? As long as it has a 0 balance, you are fine.

Re: BBVA Closure

Anonymous — Tue, 07 Mar 2017 17:17:47 GMT

last time I used it was over Xmas holidays. they closed it Jan 17 bc of serious delinquency and proportion of balances to limits on my credit report.

when I was approved for the card a little over a year ago I was at 40% utlitization and 660 fico... i got a copy of my report from the bureau they pulled in January. FICO was 686, 31% utilitization and zero late payments.

the only deliquency on my credit report was student loan payments back in 2011 which was there when they approved the card. I haven't a late payment of any kind since 2011.

As far as utilization, I had 1 card that was at 85% utilization. I used it for all my holiday shopping bc they offered 3.9% for all purchases from Thanksgiving to New Year.