account cancelled
Date: Wed, 10/08/2008 - 17:50
What does it mean "credit report wise" when your account is cancelled with a high balance yet you are still making payments?
The fact that it is "cancelled" is just a special comment that s
The fact that it is "cancelled" is just a special comment that shows the account is not open to further purchases/charges. If it shows "cancelled by grantor", it may cause potential lenders to question why it was cancelled if you're applying for credit.
Special comments, of themselves, don't factor into your credit score. So if you are current and making on time payments, it shouldn't affect your score. HOwever, a high balance in comparison to the credit limit (over 30%) may bring your score down.
