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Should I close Blispay?

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Should I close Blispay?

It seems like Blispay is done for.  Should I preemptively close Blispay before they do?  Or, does it really matter to a FICO score whether it says closed by grantor vs. individual?

Message 1 of 11
10 REPLIES 10
Moderator

Re: Should I close Blispay?

The decision to close it is up to you.

From a scoring perspective, there will be no impact/difference on whether you voluntarily close it or the lender does on its own.
Message 2 of 11
Community Leader
Super Contributor

Re: Should I close Blispay?

I did.

As soon as I got the email that they were suspending purchases literally the day before the biggest shopping day of the season for who knows how long,....... they told me everything I needed to know about the company right then. I would never be able to trust them or count on them. To the shredder it went, and I mailed out a certified/return receipt letter of closing.

Even if they do lift the restriction, and bring back the card for purchases again, I can almost bet that the card aspect will have changed...Either no more 2%, or no more 6mo/0%, but it won't have both.

Scores held down by umpteen INQ & New accounts
~~~BK7 d/c-08/2013......my rebuild worked for me, but won't necessarily work for you.~~
Message 3 of 11
Moderator

Re: Should I close Blispay?

I left mine alone. Honestly, it wasn't hurting anything profile-wise IME.

¯\_(ツ)_/¯
Message 4 of 11
Community Leader
Super Contributor

Re: Should I close Blispay?


@FinStar wrote:
I left mine alone. Honestly, it wasn't hurting anything profile-wise IME.

¯\_(ツ)_/¯

Well, not with 1M in credit, I wouldnt think it would LOL Smiley Wink...My EX file needed to be cleaned up a little anyways, so one less card reporting was a good thing for me Smiley Happy


Scores held down by umpteen INQ & New accounts
~~~BK7 d/c-08/2013......my rebuild worked for me, but won't necessarily work for you.~~
Message 5 of 11
Community Leader
Super Contributor

Re: Should I close Blispay?

Left mine open as well. I'll go right back to using it if they go live again.
It's still reporting monthly as active, so I've nothing to lose by leaving it be.
Message 6 of 11
Super Contributor

Re: Should I close Blispay?

As others have stated it's really just a preference and makes no difference in scoring. You can choose to wait it out or just get it over with and close it. If I had it, I would probably close it since it really does seem they are done for, but you also don't really have anything to lose keeping it open. Totally up to you.

Message 7 of 11
Mega Contributor

Re: Should I close Blispay?


@Gmood1 wrote:
Left mine open as well. I'll go right back to using it if they go live again.
It's still reporting monthly as active, so I've nothing to lose by leaving it be.

I don't have one but my daughter does.  I told her to leave it open for now, as I see no real downside (well, I guess if  they CLD it while open, it will show a lower total CL than if you close it, but that doesn't really matter).   And there is just a possible upside, in a nice world, if they recover/get bought, they could provide a small credit for the inconvenience.    Yes, delivered by a flying pig....

Message 8 of 11
Moderator

Re: Should I close Blispay?

I agree that there's no right or wrong answer here.

 

I decided to leave it open just in case something "interesting" happens with it. 

 

Assuming it survives in its current form (which isn't likely) if they do start allowing new charges again I would never actually depend on it, of course.

Message 9 of 11
Established Contributor

Re: Should I close Blispay?



Message 10 of 11
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