I recently opened a Fingerhut account (2/19) with a $300 spending limit with a credit score of 589. I've been in the process of removing a 60 day late charge off from Credit One (I know, 60 days sounds early to be a charge off) and a 120 day late on another Credit One account. Today I was informed from Credit One that they would be removing every deliquency from both accounts. Those are the very last 2 baddies on my report so I'm expecting a significant jump in my scores. My scores are current on my sig if you'd like to take a look. My question is if the Fingerhut account that I opened has not reported yet and I close it before it does will there be any indication other than the inqury that I ever had it and would that be a smart thing to do. The reason being is because with my score increase and no more baddies on my report I'd expect I could be approved for better lines of credit elsewhere. Thanks for your feedback Here's a little info if it helps.
AAoA is 5 years 5 months
Oldest Account is 11 years 11 months
@RobertEG wrote:As soon as the creditor approves and opens the account, they can report it to the CRAs.
Closing of the account will not prevent them from reporting.
Closing of a revolving account simply terminates ability of the consumer to make new charges on the account.
It does not cancel the account, and does not prevent the creditor from reporting past or current account activity.
That does not mean that they will or must report.
I would give them a call and ask them before making any assumption that it will not report. It is purely at the option of the creditor.
I guess my main question is if it's going to have a negitive impact on my report if I close it being I just opened it less than a month ago.
