I want to raise my Fico score
Date: Sat, 04/28/2007 - 00:14
The other thing is that I had a Lowe's Capital One card that I was saving for a rainy day. I looked at my Experian report and it said that the account had been closed for non-use over a 12 month period. The card was actually sold to GE Bank from Capitol One. I spent about 45 minutes on the phone with a representative, them a supervisor stating that I had no idea and was not notified that this account was being closed. They said it was because of non-use in a 12 month period, and maybe where my credit score was at that time. They told me that I would have to go to a Lowe's to open up a new account. I told the supervisor that I did not want to do that because it involved a "hard inquiry" that I did not want to have on my report. He said there was nothing further he can do. I will definitely complain about this action, not only to Experian, but also to the Massachusetts Attorney General. I do not believe that it is ethical or good business to simply close one's credit source without some type of notification to the cardholder before that is done. GE Bank made a unilateral decision without any involvement concerning me. What is the best way to rectify a situation such as this?
I know we have gotten cards in the past that have said account c
I know we have gotten cards in the past that have said account can be closed if no activity in a certain amount of time, so maybe check to see what your terms and conditions are to see if there is anything like that. Other than applying for a new account, I don't know what else you could do.
Closing an account for non-use is common practice. This occurs w
Closing an account for non-use is common practice. This occurs with credit cards and debit cards (yes, the bank will close your debit card account if you don't use it - sometimes it is a six month period, sometimes a twelve month period). It should be spelled out in the fine print of your disclosure information.
With a FICO score of 700, a hard inquiry to open a new account really isn't going to hurt your score much or for long.
