How will the entry "ACCOUNT CLOSED BY CREDIT GRANTOR" affect a credit score? Thanks to Amex! My credit scores are 708 EQ 683 EX 640TU. Amex chose to do this because of payment issues for the past 3 months(digging ourselves out of a hole). The man at amex told me that once the account is brought current,that we can request that the account be reopened. What are the chances of that happening? I have heard that Amex holds a grudge,but we have been card holders since 1993 and only ran into our problems during the last 6 months. Although Amex will not reort our lates to the credit B's because they only report at 120 days past,which is great! Thanks,Ritch
It's my understanding that "Account closed by credit grantor" won't affect your score at all. If someone is reviewing your credit report manually, however, such as for a mortgage, then it may raise an eyebrow. It would be best not to have the notation on there, but as far as the score is concerned it won't make a difference. Brett
