Account closed by Creditor

[ando35]

I made a payment to firts premier and it did not go through, I used the wrong account. I was not late on the payment but since it had one payment not go through they closed the account. It says closed on  the score but it still shows as making payments because I still owe them some. Maybe of I slowly pay off the balance it will be good for me? Or is colsed closed and it does not matter?

[hoping2rebuild]

I would think that if you paid it down then that balance wouldn't

count against your UTIL any longer and help your score

[ando35]

Yeah, I mean it has said "closed" on it fro three months, So whatever damage was done I assume is done.

[Shogun]

So no lates?  No derogatories?  Just pay it off, in no time it will look like it was closed for inactivity, however it will still add to your AAoA.  It's First Premier, let it go.  

[ando35]

Yeah, it was closed in October. I just reduced my over util to 7% and i got 20 points on Equifax, so I guess it did not do much damage. No lates or derogs.

[Shogun]

It will sit there and add to your AAoA for ten years.  Don't sweat it, time to move on!  Congrats on the increase.

[phillyguy12]

yea its closed but i believe as long as there is a balance the limit is included in the util calc is it not? since its 1st premiere the cl is prob pretty low so it prob want have much impact just something to be aware of

[phillyguy12]

this is what i was thinking, its over in the credit card board

http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/td-p/347190