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Home Depot has reopened my CC - Any score increase?

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SoccerFan
Valued Member

Home Depot has reopened my CC - Any score increase?

Last month Home Depot did a credit review and decided to close my account, I had a $9000 CL with a $7100 balance. In the letter they sent me, they gave me 30 days to fix any inaccurate information on my credit report. They also stated If I can fix errors they would be willing to reevaluate their decision. Well during this time I was able to get a CO paid and the tradeline deleted along with 3 - 30 day lates removed. Called Home Depot back today, they pulled a soft credit report and with a push of the button, I have my $9000 CL back. The unpaid CO is what triggered everything.

 

I lost about 30 points when my EQ was updated to "Closed by Creditor". Will I see any score increase when CR is updated with CL and open account status? 

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cobaltnv
Established Contributor

Re: Home Depot has reopened my CC - Any score increase?

You did not lose 30 points because of the "closed by creditor" designation. You likely lose the 30 points due to loss of the $9k limit and the effect on utilization. I would guess your score will go up a great deal from the removal of the lates and the CO and restoring your $9k limit--given that your utilization returns to what it was or lower.
TU 810: EQ 813: EX 814 (9/16/09--Loan officer pull)

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