topic Re: Does an 'account closed @ creditor grantor's request" affect FICO? in Rebuilding Your Credit

Does an 'account closed @ creditor grantor's request" affect FICO?

Anonymous — Wed, 01 Oct 2008 04:36:39 GMT

I have pulled up my credit reports to see if I need to write any GW's.

I came across a couple of past CC's that were closed- "Account closed at credit grantor's request."

Does this negatively affect my FICO? If so, can this be remedied with a GW?

I also noticed that ALL my past CC's were closed.

The remaining CC's (approx. 4) that I'm currently paying off on are also closed & being paid (on time) via a nonprofit debt management program. I'm close to paying off 2 of the 4, leaving 2 in the debt management program.

How bad is debt management looked upon on CR's?

Will it still affect my FICO after these CC's are paid off?

I'm just scared that I'll never be able to open up a CC again...much less from the same CC companies I had to submit to debt management.

Any info is welcomed...thanks for the help!

P.S. I also just paid off a private student loan via a settlement & currently working on trying to pay off another private SL that's probably in collections as well.

Re: Does an 'account closed @ creditor grantor's request" affect FICO?

Anonymous — Wed, 01 Oct 2008 14:03:33 GMT

Anyone?

Re: Does an 'account closed @ creditor grantor's request" affect FICO?

llecs — Wed, 01 Oct 2008 14:09:06 GMT

@Anonymous wrote:
I have pulled up my credit reports to see if I need to write any GW's.

I came across a couple of past CC's that were closed- "Account closed at credit grantor's request."

Does this negatively affect my FICO? If so, can this be remedied with a GW?

There is no impact to score. There may be an issue with a potential future lender who might see the comments and raise their eyebrows. IMO, let it be. GWing it could lead the OC to delete instead, thus losing history and points.

@Anonymous wrote:
Will it still affect my FICO after these CC's are paid off?

I'm just scared that I'll never be able to open up a CC again...much less from the same CC companies I had to submit to debt management.

It will affect your FICO if FICO reads any lates or CO/Collection statuses (stati?).

You may or may not be able to open a CC with them again. It is a YMMV situation. Some don't care and others hold grudges to the very end.

Re: Does an 'account closed @ creditor grantor's request" affect FICO?

Anonymous — Wed, 01 Oct 2008 14:15:27 GMT

Thanks!

Re: Does an 'account closed @ creditor grantor's request" affect FICO?

BIRDWRITER — Wed, 01 Oct 2008 20:47:24 GMT

I have the same situation. I also paid off my credit cards through a NFP Debt Management program, and some say "closed by credit grantor," some say "closed by consumer." Shortly after I paid off a very past due HSBC card, they began hounding me with offers for a new card. They were literally sending me offers on a daily basis! I didn't reapply because I don't feel I need any more credit cards in my life now (I still have a few), but most of them said "preapproved," so I assume they want me back.