BBVA Closure

[Anonymous]

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?

[Anonymous]

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@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?

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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.

[Anonymous]

Awesome... thank you

[Anonymous]

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.

[Anonymous]

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

[Anonymous]

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.