Anonymous Posted December 10, 2002 Report Share Posted December 10, 2002 I received a letter from Fleet saying they were cancelling my credit card because I never use it.I called and asked them if my credit report would say "Cancelled by credit grantor" and they said Yes. I asked if it would affect my credit negatively, and they said No.Is this true? Link to comment Share on other sites More sharing options...
admin Posted December 10, 2002 Report Share Posted December 10, 2002 Yes, it will affect your credit negatively. Link to comment Share on other sites More sharing options...
IB Posted December 10, 2002 Report Share Posted December 10, 2002 <blockquote>Originally posted by adminYes, it will affect your credit negatively.</blockquote>Adm: What about closed by consumer...? I think that's another option...wouldn't it affect less? Link to comment Share on other sites More sharing options...
admin Posted December 10, 2002 Report Share Posted December 10, 2002 Closed by consumer is fine. Link to comment Share on other sites More sharing options...
Anonymous Posted December 10, 2002 Author Report Share Posted December 10, 2002 Well, that was easy. Do a little b*tching and they will change it to "Closed by consumer".Thanks! Link to comment Share on other sites More sharing options...
Swede Posted December 10, 2002 Report Share Posted December 10, 2002 Do you want to close it? If so, why? If not, why don't you use it? Remember if it's closed, your utilization will change affecting your score. Link to comment Share on other sites More sharing options...
ghacorp Posted December 11, 2002 Report Share Posted December 11, 2002 Fleet and many other issuers close dormant accounts that have never been used or have had no activity within the past year. Few people would ever have reason to complain about the "closed by grantor" part because the CR shows a zero balance with no use activity. In the past I have had numerous Fleet cards show up in the mail and then the bank would eventually send letters cancelling the cards, then issue another. Link to comment Share on other sites More sharing options...
Anonymous Posted December 11, 2002 Author Report Share Posted December 11, 2002 Hi Swede,I never use it because I have plenty of major credit cards. I often use Discover, as well as Citibank (for airline miles) and my MBNA cards, which give me great rates. The Fleet card had a low limit and not-so-great interest rates, so I just used other ones. By the time I got my letter, the account was already closed, so I didn't think it was worth it to re-open it. If I do that, I'm guessing it will show as a new trade, which I don't want to do. Does that makes sense? I'm trying to keep open my oldest accounts, and not open any new ones. Link to comment Share on other sites More sharing options...
Swede Posted December 11, 2002 Report Share Posted December 11, 2002 <blockquote>Originally posted by EMTaylorHi Swede,By the time I got my letter, the account was already closed, so I didn't think it was worth it to re-open it. If I do that, I'm guessing it will show as a new trade, which I don't want to do. Does that makes sense? I'm trying to keep open my oldest accounts, and not open any new ones.</blockquote>Hi Taylor- Gotcha- agree and yea makes total sense. Link to comment Share on other sites More sharing options...
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