Curious about this. Back in 92 I had a Radio Shack card, used it once, paid it off and never used it again. In late 97 because I didn't use it anymore they closed it and sent a letter that sounded as if I had a balance and never paid. Credit report shows clearly no balance, when it was last used and all but to the right of the name it states "Closed by Creditor" Should I even care since it was in 97? I'm worried that the "Closed by creditor" will throw off the score. Taylor
I would dispute and say it was closed at consumer's request. It looks bad if an account was closed out on you. cariba
I too have one of these "closed by creditor" on my report. I was never late, and I paid my balance in full finally and then since I didn't wish to have the account any longer I wrote to them asking them to please close my account. I received a letter back saying that my account was closed by them a few months prior to my request. I haven't yet returned a reply to them and I'm not sure if I should. It doesn't seem to be affecting my score any and the balance is paid with no negatives to the account. What puzzles me is why a creditor would close an account and post such a harsh comment on people's reports when the account is in good status?
Report clearly shows when the last time there was a balance on there so if a person were to look at it they wouldn't care, but when a system does - different story. I'll be safe and dispute it to be changed. What take a chance when it's a sure thing... GT
