@Anonymous wrote:Hi all,
I've been reading the forums over the last few months and I'm so glad I found this community. It is a wealth of information and a valuable resource. I'm in the process of trying to get my credit reports in as pristine of a condition as possible so I wanted to pose a question to the community and get a little advice.
First, a little background. In August of 2013 I opened a credit line with Mattress Firm (serviced by WF) to purchase a mattress as the terms they were offering were quite favorable. I paid off the balance due in a timely fashion and have never been late. Fast forward to 2015 when it became necessary to purchase another mattress, I purchased it from Mattress Firm using the same account and the same terms as before. Again, I made regular payments and was never late. However, in July of 2016 WF closed the account with a balance remaining and put a CBG notation on my account. They never gave a reason for it and since there aren't any late payments or anything reported on the account, I didn't think much of it until recently.
After doing some reading on the forum and elsewhere, I'm now a little concerned that becasue the account was closed with balance it could affect the way creditors view my credit worthiness. Since it was finally paid off in 2018, I don't think it's affecting my score but I wonder how it could affect a creditor's decision.
Any advice would be appreciated.
Whats CBG? If theres no negs on the account. No harm no foul. You didnt closed the account. They did.
I think it means Closed by Credit Granter. I have those on my report and it doesn't appear to be negative in any way. Mine came from store cards that just sat in a drawer unused and they finally closed the account. I would suspect that in the case of Mattress Firm, they perhaps switched who they were offering credit through so they closed the account.
