cancel
Showing results for 
Search instead for 
Did you mean: 

Terminated vs Closed on Credit Card Account

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
New Member

Terminated vs Closed on Credit Card Account

Hey,

 

I had my husbands accounton my credit to improve me credit scores and I was going through a lending process and was told that I needed to take them off, so I did.

 

They were in good standing, no high balance or anything, but I removed them.

 

Looking in one of the credit reporting sites, I am seeing the status as terminated....that sounds like it's not something good. What should the status be on something like that? Closed? should I call the company to se eif that is something that they will update?

 

 

3 REPLIES 3
Moderator

Re: Terminated vs Closed on Credit Card Account


@PrncssJ wrote:

Hey,

 

I had my husbands accounton my credit to improve me credit scores and I was going through a lending process and was told that I needed to take them off, so I did.

 

They were in good standing, no high balance or anything, but I removed them.

 

Looking in one of the credit reporting sites, I am seeing the status as terminated....that sounds like it's not something good. What should the status be on something like that? Closed? should I call the company to se eif that is something that they will update?

 

 


That is the way its supposed to report when you cancel AU status, if its a good account just leave it alone.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 2 of 4
Highlighted
Senior Contributor

Re: Terminated vs Closed on Credit Card Account

Scroll down to the last post from Mod @gdale6 

https://ficoforums.myfico.com/t5/Credit-Cards/Responsibility-Terminated/td-p/3878287

Great explanation. I dont copy others replies. Hope that helps!

And Welcome to the Forums!!!!!!





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 3 of 4
Senior Contributor

Re: Terminated vs Closed on Credit Card Account


@gdale6 wrote:

@PrncssJ wrote:

Hey,

 

I had my husbands accounton my credit to improve me credit scores and I was going through a lending process and was told that I needed to take them off, so I did.

 

They were in good standing, no high balance or anything, but I removed them.

 

Looking in one of the credit reporting sites, I am seeing the status as terminated....that sounds like it's not something good. What should the status be on something like that? Closed? should I call the company to se eif that is something that they will update?

 

 


That is the way its supposed to report when you cancel AU status, if its a good account just leave it alone.


Ha! Beat me by 2 mins Smiley Tongue





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.