NinoBrown

"Account closed at credit grantors request" -does this negatively impact FICO score?

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Only if you have more closed than open accounts. The notation itself has no effect on your scores.

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I've heard that the notation does, indeed, have a negative effect. How much of an effect and why, I can't tell you. Perhaps someone else can elaborate.

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Only when a human being manually eyeballs your reports does it... raise an eyebrow.

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Actually, I believe the notation is taken into account by FICO, but who knows? FICO keeps such things a closely guarded secret.

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Interesting addition I have to this. I closed a small Household card earlier this year because they refused to waive $39 fee on a $300 card when I had limits of 10 times that much . Anyway, the guy wasn't willing to budge so i closed it. I asked him to make sure that it shows closed at consumers request. Well, it showed correctly on EX and TU, and there was a small drop in score as this was my second oldest account. But ON EQ they showed closed at credit grantors request, no drop in score and at all. I had the comment updated by Household, and when they did there was still no change in score. Fortunately now, I eat steak instead of buy FICO but I was more of an adict then. YMMV

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The fact that it's closed is taken into account by FICO, once your ratio of open-to-closed accounts hits whatever level FICO doesn't like. And of course if it winds up on the negative side of the ledger, FICO doesn't like that either. But who closed it doesn't matter to FICO.

Sometimes you run into situations where the OC closes the account for its own reasons (like Household does if you move into PrimeLand, or if they get out of the credit card business, like FCNB) that in no way reflect any negative behavior on your part... and if you don't specifically demand a "by consumer's request" notation, it may read "closed by credit grantor." But that doesn't negatively impact your FICO score on its own, unless it really affects a major factor like utilization or history.

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IFortunately now, I eat steak instead of buy FICO but I was more of an adict then. YMMV

My addiction is hopefully nearing an end. Looking forward to some steak!

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The fact that it's closed is taken into account by FICO, once your ratio of open-to-closed accounts hits whatever level FICO doesn't like. And of course if it winds up on the negative side of the ledger, FICO doesn't like that either. But who closed it doesn't matter to FICO.

Sometimes you run into situations where the OC closes the account for its own reasons (like Household does if you move into PrimeLand, or if they get out of the credit card business, like FCNB) that in no way reflect any negative behavior on your part... and if you don't specifically demand a "by consumer's request" notation, it may read "closed by credit grantor." But that doesn't negatively impact your FICO score on its own, unless it really affects a major factor like utilization or history.

Agreed. My comment I think basically supported that idea. Regardless of what comment showed, the score didn't change. The EX and TU scores changed simply because of the age issue I believe. $300 would barely have affected my utilization

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My addiction is hopefully nearing an end. Looking forward to some steak!

ybrew, have you bought your house yet? Maybe it's supposed ot be in January. Anyway, Once your all moved in you'll find the need for FICO will slide to the back burner. You can get that new grill, pick up some angus and slap it on. You'll find it to be a nice substitute for FICO.

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Agreed. My comment I think basically supported that idea. Regardless of what comment showed, the score didn't change. The EX and TU scores changed simply because of the age issue I believe. $300 would barely have affected my utilization

I was typing my post at the same time you posted. When I was finished, yours was there. :)

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LNY,

No worries, just wanted to make it apparent I wasn't contradicting what you were saying. BTW, how's Juniper these days? You know, I have a question. I think I saw a post floating around you may have commented about about in reference to Juniper. (Sorry OP, this is way off toppic.) Did you say you had luck combining two cards into one, and then after a certain time applying for another Juniper card like the National Parks one. Did this process get you buy the usual "no more than 2 card rule" ? Or do I have the wrong guy altogether! LOL.

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LNY,

No worries, just wanted to make it apparent I wasn't contradicting what you were saying. BTW, how's Juniper these days? You know, I have a question. I think I saw a post floating around you may have commented about about in reference to Juniper. (Sorry OP, this is way off toppic.) Did you say you had luck combining two cards into one, and then after a certain time applying for another Juniper card like the National Parks one. Did this process get you buy the usual "no more than 2 card rule" ? Or do I have the wrong guy altogether! LOL.

I know you weren't "contradicting" anything, and anyway, that's allowed!! ;) I was just pointing out that we were posting the same thing at the same time, which always amuses me for stupid reason. :?

And you have the right GAL.:) And yes, I did. I think there's a thread on that in "Obtaining Credit Cards" Forum with all the gory details.

(And now back to our regularly scheduled thread, already in progress...):twisted:

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