Credit card company mistake - impact on my credit rating?

paulcalf_2

Hi

In December 2012 I paid off a credit card and requested it was shut down.

The credit card company didn't actually shut my account, they left it open with a £5k 'available credit', although my balance was zero.

I discovered this mistake and contacted the company who assured me they would sort it and write to the credit agencies to update their records.

During this period my credit score (I use noddle), went from 5/5 to 3/5.

My file has now been updated, but my score hasn't improved.

What impact would leaving a £5k credit facility (although zero balance) open for a year, have on my credit rating?

During this same period I have had various other financial transactions and access to various 0% credit cards etc. I haven't missed any payments or anything.

When I spoke to another credit card company, they told me that I had access to too much credit, even if i wasn't using it all, this is when i discovered the original credit card company still hadn't shut my old account down, despite being asked on numerous occasions.

I want to do a zero% balance transfer, but am worried that the mistake made by the original credit card company will impact my ability to get credit. They have told me they have sorted the mistake, my file no longer shows I have a credit card with 'access to £5k', however my score has returned to what it used to be.

I'm thinking that my score has gradually been dropping for a year whilst i had access to this £5k, but that removing it from my file hasn't led to my score improving to what it used to be.

I appreciate thoughta from people with detailed knowledge of how credit scoring works.

Thanks in advance.


Paul

[Deleted User]

The score is neither here nor there. If the card has now gone from your files, then it will have no impact.

StuC75

An unused/abused credit account would likely have a positive impact on credit file - since ultimately you would be showing a lower credit utilisation % - what other credit commitments did you have at the same time..

Credit report's Credit Scores are quite meaningless since they don't provide you with credit.. It is the companies themselves that would apply there own internal rating \ scoring system, the specifics of which are never publicly explained..