topic Re: American Signature Furniture CC in Credit Cards

American Signature Furniture CC

inquring_minds — Tue, 26 Mar 2013 17:10:58 GMT

I just received an email indicating that the bank that issues American Signature Furniture CC was discontinuing their program effective April 1, 2013. I have this card and a zero balance. I am concerned about the effect of this closed account on my credit report. Should I notify them and request to close so that it is noted as closed at consumers request or let them close on their own. Need good advice please! Thank you!

Re: American Signature Furniture CC

Anonymous — Tue, 26 Mar 2013 17:20:37 GMT

I was wondering the same exact thing as i received an email as well. My dilemma though, is that I have a $678 balance on it from a year ago when I purchased my bedroom set. I've initiated a balance transfer to one of my NFCU cards in hopes that the check will get there beforehand. In my experience, it's taken as little as 3 days or as many as 10. I feel they should have given folks more advance notice. a few days prior hardly is sufficient. I really want to close the account myself, but I don't want to with a balance still showing.

Re: American Signature Furniture CC

Anonymous — Thu, 04 Apr 2013 16:00:51 GMT

I have the same question and have a zero balance. Please advise.

Re: American Signature Furniture CC

LisaJ — Wed, 17 Apr 2013 23:20:51 GMT

My account was closed today. I did not receive the email. I searched and found this thread. It did not affect my credit at all; I got the alert but no reduction in scores. I really don't like the note on my report that it is closed by grantor though. especially having recently acquired Barclays, Discover, and Amex, it makes me uncomfortable. Since Amex and discover have not reported yet, the change in CL will more than offset, but it was really disturbing to get the alert.

Re: American Signature Furniture CC

inquring_minds — Wed, 17 Apr 2013 23:30:52 GMT

@lisaj, I figured that would happen and it's unfortunate. I did send a letter after writing my original request indicating that I was closing the account and wanted a notation "closed a consumers request". I have since received a confirmation letter from Commenity Bank (credit grantor for AS Furniture) and my updated credit report reflects this. Thus far no drop in my score. You may want to write a letter to them asking if as a good will gesture, that they change the notation on your credit report, particularly if you had an account in good standing. Good luck and update us.

Re: American Signature Furniture CC

inquring_minds — Wed, 17 Apr 2013 23:33:29 GMT

Meant to say - after writing my original post on this board.

Re: American Signature Furniture CC

LisaJ — Wed, 17 Apr 2013 23:37:19 GMT

Thank you. I think I will at least try. It's unfortunate that I missed this thread, but I sure am glad it's here. I was really freaking out when the alert hit and I had no clue. Thank you so much for responding.

I was SERIOUSLY thinking that my DH, who is in major rebuilding mode, triggered it by getting VS with the shopping cart trick last night. I know that's really illogical, but it seemed like too much of a coincidence...so glad it wasn't anything I did. Lol.

Re: American Signature Furniture CC

inquring_minds — Wed, 17 Apr 2013 23:41:57 GMT

@lisaj, your welcome and good luck!