If a credit card company closes your account due to bank policy how does that affect your credit?

Similar questions: credit card company closes account due bank policy affect.

2 It takes a few points off your credit score.

It takes a few points off your credit score.

Lychnobite replied to post #2: 3 If the account is paid off then it shouldn't affect your FICO score unless they closed it under the universal default guidelines. This user has been banned from Askville.

Lychnobite replied to post #2: 3 If the account is paid off then it shouldn't affect your FICO score unless they closed it under the universal default guidelines.

If the account is paid off then it shouldn't affect your FICO score unless they closed it under the universal default guidelines.

4 Can you ballpark how many points is a few in this case?.. (like 10 or 100..) The card had a zero balance for more than 6 months. It was then billed for an annual fee and we didn't pay it because we didn't realize that we had something to pay. They sent us a letter that said the account had been closed and the reason would be bank policy.

I am trying to decide if I should re-activate it and pay the fee or leave it closed. Opinion? .

Can you ballpark how many points is a few in this case?.. (like 10 or 100..) The card had a zero balance for more than 6 months. It was then billed for an annual fee and we didn't pay it because we didn't realize that we had something to pay. They sent us a letter that said the account had been closed and the reason would be bank policy.

I am trying to decide if I should re-activate it and pay the fee or leave it closed. Opinion?

5 The account was paid off. What are universal default guidelines? .

The account was paid off. What are universal default guidelines?

Lychnobite replied to post #4: 6 The only card i've ever paid an annual fee with is American Express but even canceled those after a few years since Visa is accepted at just as many merchants and offer cash back without paying to use the card. I would not reactivate the card unless you have a short credit record and require it to establish a history to build your score. I would apply for a new card.

Open a savings account at the bank if you have to, even that beats paying an annual fee. This user has been banned from Askville.

Lychnobite replied to post #4: 6 The only card i've ever paid an annual fee with is American Express but even canceled those after a few years since Visa is accepted at just as many merchants and offer cash back without paying to use the card. I would not reactivate the card unless you have a short credit record and require it to establish a history to build your score. I would apply for a new card.

Open a savings account at the bank if you have to, even that beats paying an annual fee.

The only card i've ever paid an annual fee with is American Express but even canceled those after a few years since Visa is accepted at just as many merchants and offer cash back without paying to use the card. I would not reactivate the card unless you have a short credit record and require it to establish a history to build your score. I would apply for a new card.

Open a savings account at the bank if you have to, even that beats paying an annual fee.

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I know it doesn't affect credit score." "How do I know when my credit card bill is due? " "does closing a bank account affect a lenders decision to extend credit for a home? " "Will accepting a settlement offer on a past due credit card account raise or lower my score?

Can I open a bank account elsewhere if my account has been closed due to overdrafts.

I wish to open a new account with a different credit card.

If I have a credit card in my name only does that company have the rite to give my husband information about my account.

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