- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Account closed by credit grantor
Posted on 2/21/13 at 6:01 pm to Captain Ron
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.
3
Posted on 2/21/13 at 6:10 pm to TigerDent
None.
When they close it it means they have written you off as a viable debtor.
It will be a while before you can open another line of credit with chase.
Do whatever you can to prevent it from being charged off.
When they close it it means they have written you off as a viable debtor.
It will be a while before you can open another line of credit with chase.
Do whatever you can to prevent it from being charged off.
Posted on 2/21/13 at 6:16 pm to TigerDent
quote:
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.
First, good job on paying it off.
*edited re-read whole OP:
No, if Chase closed the account, they are done lending to you for a long time.
But seriously, even if you did get it reopened, you're gonna hate the interest rate you'll get.
I wouldn't reopen the account. And going through the hell of paying off a collections agency should be enough to make you want to stay away from all credit cards for awhile.
Paying off the debt was the best, and only thing, you could do to correct this mistake. For now, you can only make your situation worse by applying for more credit.
This post was edited on 2/21/13 at 6:21 pm
Posted on 2/21/13 at 6:19 pm to TigerDent
Unfortunately, somewhere between slim and none. If you do get to open something the terms will not be good.
It's better to pay off than to simply let it go, but simply being behind even if you catch up later will still translate to a big hit on your credit score.
Really all you can do is wait for time to make it fall off your report. In the meantime you will probably be deluged with "credit repair" offers and "consolidation loan" offers for large up-front fees and outrageous rates. Don't touch them.
It's possible you can work something out with the creditor to lessen the trouble but don't expect it to spring back to normal.
It's better to pay off than to simply let it go, but simply being behind even if you catch up later will still translate to a big hit on your credit score.
Really all you can do is wait for time to make it fall off your report. In the meantime you will probably be deluged with "credit repair" offers and "consolidation loan" offers for large up-front fees and outrageous rates. Don't touch them.
It's possible you can work something out with the creditor to lessen the trouble but don't expect it to spring back to normal.
This post was edited on 2/21/13 at 6:21 pm
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News