Need help on CC terms

Anonymous · ‎10-05-2007

Hello everyone,

I need a little help on cc terms I saw on a family member's credit report recently:

Account closed at credit grantor's request

Does that mean the CC company closed it because possibly they weren't getting paid?

Thanks!

Anonymous · ‎10-05-2007

As long as the card shows no lates or charge off, it could simply mean that the credit grantor closed it for inactivity or a myriad of other reasons. The reason for the card closure doesn't factor into the FICO score but could cause raised eyebrows on a manual review.

Message Edited by Brammy on 10-05-2007 04:22 PM

Anonymous · ‎10-05-2007

Brammy,

There were lates on the negative items:CCs, some pretty lengthy, so that's why I thought the CC companys closed the accounts. After reading the text on the site alot of stuff about my family member's situation is making more and more sense.

Thanks!

Anonymous · ‎10-05-2007

The CC company definitely closed the accounts. whether due to the lates or a change in creditworthiness is anyone's guess. The comment itself doesn't affect the scores but the lates definitely do. Your relative couldgoodwill the company and ask that the lates be removed.