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Safely Cancelling Cards

ccpat
Frequent Contributor

Re: Safely Cancelling Cards

Same here...I thought cards closed by the institution was a negative on the report.  Especially if there is a manual review.  Is that not correct?

Message 11 of 12
calyx
Super Contributor

Re: Safely Cancelling Cards

Remarks are not considered in FICO scoring, so yes, the only time someone would see it is on manual review.

My EQ has a "card closed by guarantor" remark and someone would be hard pressed to tell me I'm suffering for it  (and no, my EQ is low because of CAs).  


I would assume that if they're doing manual reviews, UW would be looking at the whole of the data - a whole bunch of lates/derogs and "closed by guarantor" notations are going to look like they closed it because of the derogs.   A "closed by guarantor" for an account that's clean probably won't raise an eye and I doubt it's unusual.



 

F8 EQ: 804 | EX: 785 | TU: 790 | Accounts: 2/6 3/12 7/24
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 12 of 12
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