divinemadness Posted December 11, 2007 Report Share Posted December 11, 2007 is that bad? is shows good but what do creditors think? Link to comment Share on other sites More sharing options...
Amerikaner83 Posted December 11, 2007 Report Share Posted December 11, 2007 credit grantor is the OC...I would consider it bad. If it wasn't bad in some way - why did THEY close it, y'know? Link to comment Share on other sites More sharing options...
brokeinok Posted December 11, 2007 Report Share Posted December 11, 2007 I wonder is this another of those "hidden" things in the FICO model that brings down your score? I wasn't sure so I disputed them and made the CRA change it to "account closed by consumer". Link to comment Share on other sites More sharing options...
divinemadness Posted December 11, 2007 Author Report Share Posted December 11, 2007 but heres the thing, its with pentagon federal credit union, i paid it off on time and it automatically closed, and thats what the CR is showin.. thats what i dont get. i was never default on it or late. or bad. im an angel with them!!! only them though. LOL Link to comment Share on other sites More sharing options...
brokeinok Posted December 11, 2007 Report Share Posted December 11, 2007 Maybe one of the FICO score gurus will chime in and let you know if it's worth trying to change it. Link to comment Share on other sites More sharing options...
Amerikaner83 Posted December 11, 2007 Report Share Posted December 11, 2007 not a FICO score guru...but I might dispute it. Link to comment Share on other sites More sharing options...
nylady Posted December 11, 2007 Report Share Posted December 11, 2007 I wonder is this another of those "hidden" things in the FICO model that brings down your score? I wasn't sure so I disputed them and made the CRA change it to "account closed by consumer".\\Did it work when you asked to have it changed to "account closed by consumer"I have 5 baddies listed by EX that way and they refused to budge. Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted December 11, 2007 Report Share Posted December 11, 2007 Why don't you go to the myfico forums and ask them there. I'm sure they would be able to tell you. Link to comment Share on other sites More sharing options...
willingtocope Posted December 11, 2007 Report Share Posted December 11, 2007 A paid on time account, closed by the credit grantor is NOT a bad thing. For example, old car loans...whether you paid it off or traded it in...are marked closed by credit grantor.As to the FICO scoring models...in theory...it's counts as a good, positive, credit history...although, it wouldn't surprise to find that in the "here's a sucker that CCs can charge penalty and late fees" model, its a negative. Link to comment Share on other sites More sharing options...
divinemadness Posted December 11, 2007 Author Report Share Posted December 11, 2007 yes, it doesnt show under the adverse section on my report though. i thought it did, but its not? Link to comment Share on other sites More sharing options...
egg Posted December 11, 2007 Report Share Posted December 11, 2007 I disputed one of these accounts when I first started repair. It dropped off and my score dropped. Althought it was closed it was giving me significant history, so it did more good than bad. I learned my lesson and do not dispute closed accounts with zero balance any longer. Link to comment Share on other sites More sharing options...
bmackay62 Posted December 12, 2007 Report Share Posted December 12, 2007 I had applied for, and received a Gateway PC "credit card' with a $2000 limit. I never used it as I ended up not buying a Gateway. Two years later I received a letter from Gateway that the account had been closed due to 'inactivity' and I noticed that my CR showed 'Closed by Credit Grantor'.I disputed this and Gateway ended up deleting the TL. This resulted in a drop in my FICO scores. Link to comment Share on other sites More sharing options...
divinemadness Posted December 14, 2007 Author Report Share Posted December 14, 2007 what about accounts u closed because u lost the card???it shows positive, but is it really? Link to comment Share on other sites More sharing options...
willingtocope Posted December 14, 2007 Report Share Posted December 14, 2007 Closed accounts with a $0 balance are always good...no matter who closed them. They're history...and even if they have a few lates, they'll get better with age. Link to comment Share on other sites More sharing options...
Methuss Posted December 14, 2007 Report Share Posted December 14, 2007 A paid on time account, closed by the credit grantor is NOT a bad thing. For example, old car loans...whether you paid it off or traded it in...are marked closed by credit grantor.No they aren't. Paid on-time closed accounts are marked "Paid/Never late""Closed by Credit Grantor" is a negative mark, but not a major one. It knocks 10 or 15 points off your score because the FICO model measures it as a risk assessment.If you paid the account in full and always on time you should dispute it as paid/never late. If you are in good with the credit union, as you say, you should try to deal with them directly and have them change it. Link to comment Share on other sites More sharing options...
divinemadness Posted December 15, 2007 Author Report Share Posted December 15, 2007 No they aren't. Paid on-time closed accounts are marked "Paid/Never late""Closed by Credit Grantor" is a negative mark, but not a major one. It knocks 10 or 15 points off your score because the FICO model measures it as a risk assessment.If you paid the account in full and always on time you should dispute it as paid/never late. If you are in good with the credit union, as you say, you should try to deal with them directly and have them change it.yes im trying to get a card through my credit union. they used to turn me down b/c of delinquencys, but now its because of limited credit history. LOL Link to comment Share on other sites More sharing options...
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