Credit card closed by grantor due to 1 late payment...........?

Question

Since then, I have paid them every month on time although it seems they havent reported any ontime payments after they closed account. What are the chances of them reopening account and removing the 1 late payment. How would I go about doing this? I would like to see it back is accounts in good standing? (No late pymts 1 1/2 years prior, and none since) Ochard is the CC.

What would be the chances of them removing the one late payment and leaving the account closed? It's not so much that I want the card, I just want the negitive way its reporting gone.

Answer 1

Any credit card company can close your account basically at will if they feel you have become a higher risk. You don't say how late your payement was, if it was only 30 days late it is rare but not unheard of that they would close your account. If it was 60 or more days late then it would be very common to close your account out.

Once they close the account, having it repopened or having the late payment removed is probably not going to happen. However you will never loose anything by asking them to do that. If you just want the negative information removed, your chances might be improved if you pay off the account in full. Just what ever you do make sure you have something like that in writting first.

Answer 2

Get informed. Get all of your statements. Get all or your proof of payments and the dates. Get your credit report and see what they are actually reporting on it. Get all your ducks in a row. Know everything about your account.
Call them and get their accounting on your account. Now remember the people that you talk to will likely not have a brain. They work for a credit card company that gives loans to poor people at high interest. They have small hearts and even smaller brains. If they are continually reporting you late you need to work with them to figure out what is causing the payment to be late and reported as late. These guys love late fees. Get that stopped. Your looking for your account to be shown as current.
After that think about all the hassle that you have gone through using these cards. Think about all the worry that you have had about your credit report and your fico score.
Be free. Cut up the rest of your cards and close those accounts to new activity. Many people talk about being debt free then suggest that you keep a credit card. The only way to be debt free is to pay off what you owe and never borrow money again. That will give you true freedom. Sure you will be weird but normal is broke. Normal is credit cards.

Answer 3

It "seems" like......Sorry that is a true or false issue. Go to FTC.gov and pull your own credit report. Its free. You can see exactly what is being reported. If there are are errors you can try to correct them.
As for removing the late payment, if there was an error, then maybe, if not then not likely.
As for reopening, how is your credit? That is what will effect that decision.
I don't think one late payment is why the account was closed. If your credit had declined recently or you were making only min payments, that may have effected the decision. You can request the letter related to the closing of the account. That should list the 1 or 2 reasons for closing the account.
I would say payoff this account as quickly as possible.

Answer 4

1. Experian, Equifax and TransUnion. These three credit bureaus are responsible for reporting your credit scores to banks and other lending institutions. The basic idea behind reporting and tracking your credit history is to get an idea on how prompt and reliable a person is in repaying the loans.

2. The three digit credit score is one of the most important numbers that you will require for getting any loan. A good credit score means low interest rates, better and bigger loans and easy repayment options. On the other hand, low credit score means the opposite.

3. Your credit score is updated regularly. So, don't even think of missing a payment to the lenders. Default on this front could cause a shift in your credit scores and thereby make the loans dearer. Checking your credit score regularly, guards you against any such unpleasant situations. Credit reporting agencies are bound by law to send you a free credit report every year when you ask for it. Read more from: http://www.credit-card-gallery.com/article/220,5_must_know_things_about_credit_reports

Answer 5

I receive the Army Times, and they had a list of businesses to avoid. Orchard bank, and Citifinacial are two of several mentioned. They tend to give second chance credit easily, but Orchard Bank for one will never compete with most other companies, even if your payments are prompt. One common reason for closing an account if you stay close to the max and make minimum or just above minimum payment. If they pull up a credit report on you an see any red flags, they will dump you rather than take a chance of letting you get any deeper in debt. Pay your debt off in a timely fashion and you will have other opportunities to build your credit.

Answer 6

that's incredibly obtrusive which you recognize not something approximately accounting. the unique creditor writes off the debt off their books and takes the loss. If for this reason, they gets a commission the countless written off undesirable debt, it fairly is placed back on the books as recovered undesirable debt and further back to earnings. whether the judgment money are to the unique creditor, that unique credit card account is closed and those money do not might desire to be stated. The debt might ok have been bought to a minimum of one/3 occasion sequence organization. whilst the judgment is paid in finished, the judgment holder might desire to record place of work work with the courtroom to tutor the judgment chuffed. Then the judgment would be as much as date on the credit checklist to tutor paid. there is not any thank you to tutor money on a judgment. by how, judgments age off the credit checklist in 7 years or the state statutory max, which ever is larger. Makes no difference in the event that they're paid or not.

Answer 7

It's their card, they can lend you money or not, as they see fit.

Next time don't abuse borrowing, it matters in life to have a good credit rating.