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re: Account closed by credit grantor
Posted on 2/21/13 at 4:27 pm to TigerDent
Posted on 2/21/13 at 4:27 pm to TigerDent
quote:
After I pay it off, how will it affect my score?
Nada.
Since the account is closed, paying it off doesn't improve your debt to credit ratio since you no longer have credit with Chase.
Your credit score will not improve for 7 years (from this infraction) which is how long it will take for the missed payment dings (30/60/90 late payments) to drop from your credit report.
This post was edited on 2/21/13 at 4:29 pm
3
Posted on 2/21/13 at 6:01 pm to Captain Ron
What would y'all say (after having paid it off) are the chances of it being reopened? I had a ~8000 balance that I have paid off in six months.
Posted on 2/21/13 at 6:18 pm to Captain Ron
quote:
Your credit score will not improve for 7 years
This is absolutely wrong. To the OP, try to work out a payment plan with them.
Posted on 2/21/13 at 6:27 pm to Captain Ron
quote:
Your credit score will not improve for 7 years (from this infraction)
Not true, the infraction will be on his credit report for 7 years.
The score can improve long before this infraction is removed, as long as he doesn't have any more infractions in the meantime.
Probably will see it start to crawl back up after as little as 2 years, not dramatically though for at least 4.
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