The credit grantor is another term used to define your creditor or company that gave credit to you. As your credit grantor, the credit card provider can make a lot of choices concerning your account as described in your credit card agreement. They can increase or reduce your credit limit as well as change the interest rate. They also have a power to charge your acount for a particular purchases, and can can charge fees as a fine if you're late with your monthly payments. And lastly, your debt grantor can also close your bank account, in some cases without warning. Will Account Closed By Credit Grantor Affect Your Credit Score? Find out in this article https://www.newhorizon.org/credit-info/closed-grantor-will-affect-credit-score/

1. Will "Closed By Grantor"
Affect Your Credit Score?
NEWHORIZON.ORG

2. What Is A Credit Grantor?
The credit grantor is another term used
to define your creditor or company that
gave credit to you. As your credit grantor,
the credit card provider can make a lot of
choices concerning your account as
described in your credit card agreement.
They can increase or reduce your credit
limit as well as change the interest rate.

3. They also have a power to charge your account for a particular
purchases, and can can charge fees as a fine if you're late with
your monthly payments. And lastly, your debt grantor can also close
your bank account, in some cases without warning.

4. Why "Closed By Grantor" May Appear on Your Credit Report?
There are many reasons why your credit card
might be closed...
1. You missed several of your payments
2. Your credit card was inactive for an amount of
time
3. The credit card was replaced with an updated
credit program
4. The creditor found fraud on the account
5. Someone stole your credit card and you reported
it

5. Credit reporting agencies are required to report ONLY accurate
information on your credit report. If the information is inaccurate,
you can dispute it. But if the report is correct, it will stay on your
credit report for a period of time.

6. Will the Remark on Your Credit Report Affect Your
Credit Score?
Fortunately, any comment stating that
your credit card issuer closed your
account or the fact that your account
closed by credit grantor (rather than you
closing it) won't hurt your credit score.
Comments aren't factored into your
credit score; only activity on the account
will affect your credit score.

7. However, your credit score could be
affected by an account closed by credit
grantor if you still have the balance on the
credit card or if your other credit cards
have balances. An account closure could
also affect your score if the card was your
only credit card. If the account was closed
because of late payments, the late
payments would also affect your credit
score.