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Argos store card
iceage3
Posts: 235 Forumite
Hello
i have just cancelled my argos store card after so many yrs off spending.
Does anyone know if my credit report will change to closed /settled.
My credit report usually changes in first 10 days of month do u think it will say settled.
AS ANYONE HAD PROBLEMS WITH THIS OR ARGOS
i have just cancelled my argos store card after so many yrs off spending.
Does anyone know if my credit report will change to closed /settled.
My credit report usually changes in first 10 days of month do u think it will say settled.
AS ANYONE HAD PROBLEMS WITH THIS OR ARGOS
0
Comments
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It will change to "settled" and stay on your credit file for the next 6 years0
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Hi,
Your credit file will eventually change to say 'settled'.
I don't have specific experience of Argos, but when I've closed accounts in the past it's taken around 2-3 months for the status to be updated to settled.
I did have one account (smile current account) which didn't update at all and I had to write to them, it was updated a month after writing.
Regards
UNDERGROUND
This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
The Argos account will be marked "settled".My credit report usually changes in first 10 days of month. Do you think it will say settled?
Unlike credit searches and an increasing number of online and telephone credit card applications which appear on your credit file more or less in real time, this type of data can take a month or more, depending on the lender.People who don't know their rights, don't actually have those rights.0 -
Thats what i am worried about taking too long .
The argos store card on credit report says "credit card/store card"
do lenders see this as credit card or store card.0 -
Thats what i am worried about taking too long .
The argos store card on credit report says "credit card/store card"
do lenders see this as credit card or store card.
Why are you worried?
The fact that it doesn't say 'settled' doesn't have a detrimental effect on your credit worthiness!
It doesn't matter whether lenders see it as a store or credit card, as long as your payment history is good.
UNDERGROUND This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Store cards ARE credit cards (They are usually operated by credit card companies on behalf of the retailer with the stores being given back a % of the profits), so it makes no difference from the point of view of your credit rating.The Argos store card on credit report says "credit card/store card" Do lenders see this as credit card or store card?People who don't know their rights, don't actually have those rights.0 -
If you believe you have too much available credit, it would be advisable to check your credit reports to make sure the a/c is marked "settled" before you submit a credit card application.
The whole process (from the initial phone call to your lender to cancel) can sometimes span two or three months and, IME, there's little you can do to chase things up, so allow plenty of time
People who don't know their rights, don't actually have those rights.0 -
Hello
my store card has got a credit limit of £2000. Would this affect my lending if not settled/closed.
Do they £2000 into account.0 -
Obviously, we don't know your annual income or your available credit, but it would be unlikely to affect your chances of getting credit, unless you have a lower than average income.My store card has got a credit limit of £2000. Would this affect my lending if not settled/closed?People who don't know their rights, don't actually have those rights.0
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