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- Joined: Thu May 08, 2014 7:42 pm
- Location: United States
rockyrock wrote:I'm not sure how this will impact your score but your reports will say: closed by grantor. That happened to me with my Sears card many years ago from inactivity. Still says that on my report--grrrrrr.
I don't believe it can affect an actual FICO score, but the "closed by grantor" label could possibly be a subjective factor that human analysts or risk-monitoring analyst software consider. I suspect it would be a big red flag to other creditors if one issuer closed several of a customer's cards within a short period of time - especially if the cards weren't very old. If Chase closed all four of the OP's cards within a week or two, I think that would certainly spook other lenders.
But I don't think the OP has anything to worry about from these closures.
In the case of Samuels (Jewelry) Financing, it's a Comenity store card. Since Comenity issues mostly (if not exclusively) store cards, I think a credit analyst would realize that it was only closed due to inactivity.
In the case of Wells Fargo, it was an older, low-limit card. The OP has several newer, higher-CL prime cards that are in good health, which should allay any concerns about the two closed cards.
On the other hand, my "if I was a credit analyst" reasoning has sometimes not corresponded to reality. You'd have to work in an issuer's risk department to really know for sure.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros
Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech