Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
EYAKA55

0 Contributions
0 People Helped
Closed an account because the company is no longer in business.
I closed the Limited credit card, because the company has recently filed bankruptcy; however this impacted my credit score negatively. Please advise if I could've avoided this from impacting me negatively. Now the company may open an on-line store, but currently that does not appear to be the case.
Thanks

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
9983 Contributions
4257 People Helped

You woud have learned from the articles here that closing a credit account WILL negatively impact a credit score.  Even if the company goes out of business, leave the credit card alone until it dies on its own. I advise taking the time to read the articles for your benefit.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.