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So forgive me in advanced if this has been posted before, or if it hasn't because it's not an intelligent question. I tried searching for an answer, but found nothing, so maybe I wasn't using the correct search queries/terms. 


Anyway, does it make a difference if the account is closed by the consumer versus being closed by the credit grantor? I understand it has no impact on your credit score (as far as I am aware), but how do other credit grantors look at an account that was closed by the consumer/credit grantor.


I hope I make sense! Thanks in advanced!

Starting Score: 677 (Equifax 04/01/2012)
Current Score: 677 (Equifax 04/01/2012)
Goal Score: 725

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Message 1 of 2
Moderator Emeritus

Re: Closed

Hi Ion,


It's an intelligent question and lots of other folks have asked it.


Whether an account is closed by creditor or by consumer doesn't matter for your FICO scores. 
FICO scoring algorithms don't factor in whether an account is "closed by grantor" or "closed by consumer."

The general consensus here is that it doesn't matter upon manual review, either.  Virtually no one has related an experience where this raised eyebrows during a manual review.

We opened a new mortgage last year, and our credit reports were gone over in some detail while we were there.  Never a comment about why any of our accounts were closed by grantor (we have some) or closed by consumer (we have those, as well).


Nada-Zip-No difference.


It's always nice to have one less thing to worry about!  Smiley Wink

Just puttin' syrup on something, don't make it pancakes.
Message 2 of 2