Chase Credit

Hi Sporked
Its really sorry to hear that your credit card account has been closed. But the fact is that even if you pay off the debt in full right now, I don't think they will reactivate your account. However, if they have not yet listed your account as delinquent in your credit report, you should pay them off in order to avoid the negative listing which may stay in your credit report for seven years and affect your credit score.

Now, if they have already reported the debt as delinquent, you should first negotiate for PFD and then pay it off.

Thanks for the info...I don't think they are reporting me as delinquent(how can they? like I said the most I have ever been late was 1 day after the due date), and I really don't want the account reactivated. since this is the biggest of my debts...I will tackle this gorilla first. I guess I felt like a little vengeance, because they are such jerks. The most important thing to me is to save my credit rating.

Now, if I pay the account off, could it still for some reason affect my credit score? Dunno, but I guess I will find out

Thanks again

As far as I know, even if you pay off the outstanding debt, it will affect your credit score. This is because your account has been closed and your credit history associated with the account will no more reflect in your credit report. However, you should request the bureaus to change the status of your account to "closed by grantor".

Since the account is closed, you might be able to set up a payment schedule at little to no interest. You could keep your savings, just in case.