Chase rep says "voluntarily close your account"???
Date: Thu, 09/03/2009 - 20:25
I am close or at 3 payments behind on a few different cards at the moment and the other day I was having my weekly chat with the Chase rep that called. I have two cards with them; one is 22k and another is 7k. the chase rep told me that I should voluntarily close both accounts as it will look better on my credit report vs. them closing them on me (which he said will happen soon once I've missed 3 or more payments). Anyone familiar with this term/action? I really don't care much about my credit at this time but I guess any little bit helps on the terminology they all use when settling/closing accounts.
He said closing it means I just can't use it again but I said I haven't used either one for a few years and that they already lowered the limits to what I owe so whats it matter. So far, they just keep pushing me towards the hardship program and haven't mentioned settling. They've been nice and always close by wishing me best of luck. Makes taking the calls a bit easier.
He said closing it means I just can't use it again but I said I haven't used either one for a few years and that they already lowered the limits to what I owe so whats it matter. So far, they just keep pushing me towards the hardship program and haven't mentioned settling. They've been nice and always close by wishing me best of luck. Makes taking the calls a bit easier.
Well, the Chase rep was right. it'd look much better on your rep
Well, the Chase rep was right. it'd look much better on your report if you close the account by yourself. However, most likely it wouldn't affect the credit score.
Both the settlement and hardship programs have their pros and cons. The reason Chase so far has promoted its hardship program is that through this program you'd repay the entire loan amount may be at more convenient rate.
