mocha1482 Posted April 14, 2007 Report Share Posted April 14, 2007 Can a credit card company close your account without sending out a notice or letting you know? Link to comment Share on other sites More sharing options...
elyse449 Posted April 14, 2007 Report Share Posted April 14, 2007 That's a good question. Did this happen to you? If so, with whom? I hate to say it, but I think they can. I think it's under their disclosures. You could ask them for a reconsideration. At the very least, you have the right to know why. All I can say is, I hope there was no balance. "Closed by credit grantor" does hurt your FICO, so you'll want to look into it definitely.Elyse Link to comment Share on other sites More sharing options...
mocha1482 Posted April 14, 2007 Author Report Share Posted April 14, 2007 It didn't happen to me, but it did my cousin. She has a Visa card and she called them about it. The customer service rep told her that she should have gotten a letter about the closing. But my cousin said that she never received any type of letter or anything concerning closing her account. She admitted that she missed 1 payment, but I know of people that have missed more than that and their accounts were not closed. She has been making payments since then on time. So I am just here looking for advice for her to see what can be done. Link to comment Share on other sites More sharing options...
CreditKitty Posted April 16, 2007 Report Share Posted April 16, 2007 My fiance has had credit card accounts closed by the creditor too - for not using them at all. Does that hurt his scores? All have zero balances since he obviously never used them. It was from when he was in college and they practically threw them at him. Link to comment Share on other sites More sharing options...
LNY Posted April 16, 2007 Report Share Posted April 16, 2007 That's a good question. Did this happen to you? If so, with whom? I hate to say it, but I think they can. I think it's under their disclosures. You could ask them for a reconsideration. At the very least, you have the right to know why. All I can say is, I hope there was no balance. "Closed by credit grantor" does hurt your FICO, so you'll want to look into it definitely.Elyse"Closed by credit grantor" does NOT hurt your FICO. It only makes a difference upon manual review.And yes, they can close your account at any time without notice. The fine print is completely in their favor. Link to comment Share on other sites More sharing options...
elyse449 Posted April 17, 2007 Report Share Posted April 17, 2007 "Closed by credit grantor" does NOT hurt your FICO. It only makes a difference upon manual review.And yes, they can close your account at any time without notice. The fine print is completely in their favor.I hate to argue, but yes it does. I know it does, it hurt my FICO. As soon as I got that "closed by credit grantor" Bon card off my CR my FICO jumped. So, yes it does affect it. It may have been some sort of "flag" in my situation whereby a creditor was alerted to do a review and that's where the issue was...either way, getting rid of that darned account HELPED my FICO.E Link to comment Share on other sites More sharing options...
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