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Yes. Creditors report to the credit reporting agencies the terms under which an account is closed. It looks bad and is a slightly more derogatory status when an account is closed by the lender vs. closed by the customer.
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∙ 15y ago
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Can you reopen a credit card that was closed by the issuer?
No. The reason a credit issuer closes an account is because they no longer consider you an acceptable risk.
If your request for credit is denied by a credit card issuer such as American Express does it negatively impact your credit score?
It can..it depends on how many open credit accounts you have. But will only have minimal impact on credit score.
Can credit card images be personalized?
Credit card images can be personalized depending on your credit card issuer. Most credit card issuers offer a service for credit card personalization for a fee.
What is the difference between letter of credit letter of guarantee?
Both Letter of Credit and Letter of Guarantee are commitment to payment by the issuer of the instrument (generally a Bank). In letter of credit, the issuer has to fulfill his commitment on fulfilling the terms and conditions of the letter of credit by the beneficiary. Whereas, on the other hand, in letter of guarantee the issuer has to make payment, when the beneficiary is unable to fulfill the terms & conditions of the letter of guarantee.
How many credit cards can you have with one issuer?
Generally, there are no limits, but once your debt to income ratio gets to high, all issuers my deny you. I have 4 credit card through one issuer.
Can you reopen a credit card that was closed by the issuer?
No. The reason a credit issuer closes an account is because they no longer consider you an acceptable risk.
What country had the first credit card issuer?
The United States had the first credit card issuer, Diner's Club.
Will credit card fraud against you affect your credit score?
Unfortunately, it will reduce your credit score. What happens is that the original credit card account shows as closed, and you have a newly issued credit card account with a new number through the same credit card issuer. It will take at least 2 years before the newer credit card account is seen as a seasoned trade line.
Does disputing unauthorized charges lower one's credit score?
No it should have no affect on your CR. All charges that a consumer feels are invalid should be challenged. With the CRA and with the credit issuer.
What happens when you buy something using a credit card?
the credit card issuer pays the store
If your request for credit is denied by a credit card issuer such as American Express does it negatively impact your credit score?
It can..it depends on how many open credit accounts you have. But will only have minimal impact on credit score.
Can credit card images be personalized?
Credit card images can be personalized depending on your credit card issuer. Most credit card issuers offer a service for credit card personalization for a fee.
Which Indian bank is the largest issuer of credit cards?
icici
What is the difference between letter of credit letter of guarantee?
Both Letter of Credit and Letter of Guarantee are commitment to payment by the issuer of the instrument (generally a Bank). In letter of credit, the issuer has to fulfill his commitment on fulfilling the terms and conditions of the letter of credit by the beneficiary. Whereas, on the other hand, in letter of guarantee the issuer has to make payment, when the beneficiary is unable to fulfill the terms & conditions of the letter of guarantee.
From looking at your Equifax credit report how can you discern which credit cards will approve you and at what APR and credit limit?
You can't. All of those factors are at the discretion of the card issuer.
Do you have to have a bank account with the bank that issues the credit card?
No - in most cases. As long as the credit card issuer can determine your credit worthiness, it doesn't matter where your bank account is. There is one exception. If you apply for a secured credit card, you must keep a 'security deposit' of a certain amount in the institution chosen by the credit card issuer (usually their own bank).
Where can one find out exactly how credit cards work?
One can find our more information about how credit cards work by visiting your local bank or credit card issuer and asking for information pamphlets about credit and credit cards.
