Credit Report Question

Discussion in 'Credit Talk' started by GEORGE, Jul 15, 2001.

  1. GEORGE

    GEORGE Well-Known Member

    Did wife's EXPERIAN disputes ON-LINE just now...

    D.O.B. WRONG YEAR

    TWO ACCOUNTS...DISPUTED WRONG...ACCOUNT CLOSED BY CREDIT GRANTOR'S REQUEST...

    ADDED...ACCOUNT CLOSED BY CONSUMER'S REQUEST


    TWO OTHER ACCOUNTS...ADDED ACCOUNT CLOSED BY CONSUMER'S REQUEST




    My main question is when it says...ACCOUNT CLOSED BY CREDIT GRANTOR'S REQUEST, does that mean more than PAID/NEVER LATE???
    (WHAT COMPANY IN THEIR RIGHT MIND, WOULD CLOSE A PERFECTLY PAID ACCOUNT)???
    IS IT A F.I.C.O. KILLER???
     
  2. Nave

    Nave Well-Known Member

    I would think that a human being reviewing your report would be able to make that observation and turn it into a useful conclusion. But a scoring algorithm would likely take into account the separate qualities (1 good 1 bad) and may negate each other to some extent, or it may be that the "closed by" status takes some kind of precedence...Only speculation since no one really knows but Isaac...either way you are best to change it to "closed by consumer's request" as you're dispute hopefully will.

    -Dave
     
  3. GEORGE

    GEORGE Well-Known Member

    Maybe the CLOSED BY CREDIT GRANTOR is why she got a 60 SECOND DENIAL from AMERICANEXPRESS???

    I did a PLANETFEEDBACK for her...AMERICANEXPRESS sent an E-MAIL (not even 48 hours later) to call about the card...but the automated line still says DENIED...

    SHE DOESN'T CARE, BUT I REMINDED HER ABOUT THE AUGUST 15, 2001 FINAL PAY OFF DATE FOR NEXT CARD...Unless they respond to my (her) SECOND OR THIRD OR TENTH AND FINAL NOTICE...9.99% fixed, no BT fee, and refund the $100 BT fee they ripped off!!!


    NO WAY AM I PAYING 18.99% OR IF I (SHE) CLOSES IT 19.99%!!!
     
  4. VJ

    VJ Well-Known Member

    George ,
    I always demand(like that carries a lot of weight) that every acct I close is listed as "Closed at Consumers Request".
    You must be careful with this because the cra will probably just try to slip the statement in as a consumer statement rather than the statement of facts that are received from the creditor and are listed along with Never Late/Paid or Pays as Agreed.
    The difference is that fico doesn't recognize consumer statements when it calculates its score but it does pay close attention to lender notations on each acct.At least that's what I think as Mr. Fair and Mr. Isaac aren't talking, and yes Nave,they are really two different individuals.
    It's easy for a cra customer service rep to be lazy and just add a quasi meaningless consumer statement to the bottom of the acct info and get you off the phone.If he/she does it the other way and adds it as lender generated info, they will have to get it OK'ed by that particular lender before it is added.(Its a lot more work for them).

    VJ
     
  5. GEORGE

    GEORGE Well-Known Member

    <BUMP>
     
  6. Cadillac408

    Cadillac408 Well-Known Member

    I've always read that "Closed by Credit Grantor" is viewed negatively. I had that notation on my FUSA account (with an R1 rating) and I was HOT! I closed the account...NOT THEM! So I had them change it to "Closed by Consumer". But before I had them change that, it didn't hurt my credit. I think mainly because all that matters is the rating (R1, etc.)

    A friend of mine's boyfriend had a Capital One card that he never used. They closed his account after 4 or 5 months of inactivity and put on his report "Closed by Credit Grantor". I don't see what's negative by having an account and never using it. A creditor could close your account for several positive reasons. Say you pay your account off and never use it. I can see how after xx amount of months, they close your account and put that notation next to it. This would prevent fraud from occuring.
     
  7. GEORGE

    GEORGE Well-Known Member

    MP$40...THIS MAY BE WHY CLOSED BY CREDIT GRANTOR IS BAD...
    ----------------------------------------------------------------------------------------
    Maybe the CLOSED BY CREDIT GRANTOR is why she got a 60 SECOND DENIAL from
    AMERICANEXPRESS???
     
  8. Cadillac408

    Cadillac408 Well-Known Member

    What was the rating on the account?

    When I applied for my own Am/Ex card in March, the notation was still being reported by FUSA. Am/Ex didn't site it as a negative on my report though. They sited other stuff like paid zero balance collections, student loan paid collections, etc. They didn't even care that they were PAID! They still viewed it as a negative.
     
  9. GEORGE

    GEORGE Well-Known Member

    ALL ACCOUNTS (CLOSED BY CREDIT GRANTOR) WERE RATED POSITIVE
    (I GUESS)...BUT WHY WOULD AMEX GIVE A 741 F.I.C.O. A 60 SECOND DENIED???
     
  10. Cadillac408

    Cadillac408 Well-Known Member

    That is bizzare! All I can suggest is to call that automated number and get to a live person and ask why. They'll tell you just like they told me. Maybe there was a typo on her SSN or DOB???? That happened to my boss's boss. He was denied for the Am/Ex Corp card. I was so embarassed because I thought I was going to have to tell him. Turns out that the person entering his info in screwed his SSN up by 1 number. That's all. So just call and find out. You never know. I don't think Planetfeedback works very will with Am/Ex. I sent them a letter via PFB on how I thought it was unfair that I was denied the Am/Ex debit card (on my Fidelity account). No response. I resent the letter and finally got BS response from some lady that pretty much said SORRY!

    Just have her call....maybe it's something minor.
     
  11. GEORGE

    GEORGE Well-Known Member

    I did PFB for her...I think less than 48 hours AMEX E-MAILED her to call.

    I'M TRYING TO GET HER TO CALL...
    WISH US LUCK.
     
  12. Cadillac408

    Cadillac408 Well-Known Member

    GOOD LUCK! ;-)

    :)
     

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