ACCOUNT CLOSED WITHOUT PERMISSION

Anonymous · ‎10-22-2014

Hey Ya'll,

I recently came into a situation where my oldest credit card was canceled by Sears Mastercard because apparently they had a change in terms and conditions and I didn't accept them. The account was in good standing and I've never missed a payment in my entire credit history. I'm only 22 but my latest experian score was 714. I've called them and explained the situation but the lady told me one the account is closed it cannot be reopened. I've only had this card a year but it was my oldest card and will certainly affect my credit longevity. I've read in places that even though it is closed that it could remain on my credit reoprt for years as a closed account. Is there anyway to fight this since I did not authorize the closing of this account?

StartingOver10 · ‎10-22-2014

@Anonymous wrote:
Hey Ya'll,

I recently came into a situation where my oldest credit card was canceled by Sears Mastercard because apparently they had a change in terms and conditions and I didn't accept them. The account was in good standing and I've never missed a payment in my entire credit history. I'm only 22 but my latest experian score was 714. I've called them and explained the situation but the lady told me one the account is closed it cannot be reopened. I've only had this card a year but it was my oldest card and will certainly affect my credit longevity. I've read in places that even though it is closed that it could remain on my credit reoprt for years as a closed account. Is there anyway to fight this since I did not authorize the closing of this account?

The credit grantor, in your case Sears mastercard, can close the account unilaterally without your permission. Read your terms and conditions of the account. You can try to go up the ladder to see if they will do a reconsideration, but really, why would you?

The account is only one year old. Let it stay closed and apply for a better card that is not a store card.

Anonymous · ‎10-22-2014

Sorry to hear was this accidental or intentional?

I could be wrong but I don't believe a lender needs permission to close an account, its their money after all. If you don't expect the terms and conditions they of course will close it.

Good news is the account will stay on your report for 10 years and help the AAoA. You may see a drop in score due to your overall credit being reduced. But that will depend on how much of your available credit is being used. I'm no expert so someone correct me if I'm mistaken.

Simply827 · ‎10-22-2014

Nope, you're right OpenG.

From 144k CL to BK7- 7.19.24

taxi818 · ‎10-22-2014

Keep in mind in essence. this is a loan from them to you. not you to them. they don't need your permission to close account. which means.they can close it for no reason at all as they are the lendor. they did give you a chance to accept new Tand C which you admit. you failed to do. hence. closed. ooh. well. your entire credit life is still young. what 4 years?. you live and learn. just reopen the account. maybe try and speak to supervisor. and see if they sympathize. if not. just re apply and hope for the best. as this is citi. the bank behind sears. your chances are slim for reopening. good luck however.

taxi818 · ‎10-22-2014

@Anonymous wrote:
Sorry to hear... I work for a company called Better Qualified, we help people get negative items removed off of their credit report. Our website is www.betterqualified.com People sign up with us for that exact reason that they dont want to wait the 5 to 9 years a negative item stays on your report, through us it will come off within 3 to 6 months. I this is something that mite be able to help you, feel free to email me at Devraun@gmail.com

Did you actually read his post?? or did you come here to sell your services.

most of us here know about the garbage most removers will do. spam the hell out of the creditor with the hope they will remove.

please. i think it is forbidden to solicit here. so please sir. go away with that trash.

Middleswarth · ‎10-22-2014

@Anonymous wrote:
Definetl read post, He said he was worried about it effecting his credit long term because items stay on report for many years, so i let him kno that im with a company that can help him remove it off of his report.....We also dont spam creditors, i dont know where you got that info. Whats wrong with giving someone an option that can help??? Why are you so mad????

So exactly why would anyone want a positive account removed from their report???? I hope this is not the advice you give to paying customers (assuming you have any).

Anonymous · ‎10-22-2014

+1
Was about to post the same, glad someone did.

Anonymous · ‎10-22-2014

Its a closed acct nothing wrong with it. People close accts all the time. Half the accts I have are closed. Closed by lender is what it will say if it was a positive acct it will stay that way for 10 years.

Middleswarth · ‎10-22-2014

I hope the 12 people understand that a closed card stays positive for 10 years because you apparently do not.

Take some time and read before you answer (or, in your case, before you spam).