Account Closed By Credit Grantor: What Does It Mean?

Last Updated: Jan 02, 2023

Identified a new remark on your credit report, should you be concerned?

Breakdown of “account closed by credit grantor” remark and its effects.

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Remarks will appear on your credit report as a means of providing additional information about one, or more of your accounts. Remarks can be either positive, negative, or even neutral, depending on the account and situation.

Here we consider the meaning and purpose of a “Account closed by credit grantor” remark on your credit report, and what you can do about it!

What Does Account Closed By Credit Grantor Mean?

The grantor is another term used when referring to creditors. If inaccurate information is identified on your credit report, it may be necessary to dispute that information with the original creditor/grantor.

Once you have disputed the information, the grantor has the responsiblity to investigate the file and reporting back to you within 30-45 days, as is required by federal law.  The investigation has been completed the results must be communicated to the customer in writing.

“Account closed by credit grantor” means an account has been closed by the credit issuer. The statement does not affect your credit scores or suggests there is a problem with the account management. Therefore, consumers should not be concerned when this remark appears on their credit report.

Why You Are Seeing “Closed By Grantor” Comments On Your Credit Report

There are multiple reasons for a “closed by credit grantor” remark appearing on your credit report. This simply indicates the credit company closed the account, and most commonly occurs due to:

  • Account inactivity for extended periods.
  • Balance was transferred to a new card.
  • Late payments.
  • Fraud activity on card .

Closed Statements Will Not Affect Your Credit

The “account closed by credit grantor” does not negatively impact your credit score. If the account reflects all payments were made on time, it will be regarded as positive.

Identifying who closed an account has no influence on any credit score calculations, it is not factored in.

Bottom Line

The remarks you identify on your credit report are there to provide additional information on the accounts they are linked to. Remarks have no direct impact on your credit score.

Beyond the practice of regularly reviewing your credit report, it is equally important to understand the different elements of your credit report and how it affects you.

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