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Ed Johnson
Ed Johnson, HR & Business Operations Consultant
Category: Finance
Satisfied Customers: 10760
Experience:  Central Michigan University, MSA Candidate; Global Compensation Operations Mngr; AA Degree Lib Arts
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ON A CREDIT REPORT WHAT DOES POTENTIALLY NEGATIVE CLOSED MEA

Customer Question

ON A CREDIT REPORT WHAT DOES POTENTIALLY NEGATIVE CLOSED MEAN?
Submitted: 8 years ago.
Category: Finance
Expert:  Ed Johnson replied 8 years ago.

DearCustomer

 

Thank you for this question.

 

This normally refers to a closed account where the reporting merchant has not indicated a reason for closing, or has entered a reason such as:

 

Closed at the request of the customer; or closed not according to terms.

 

It is potentially negative because some lenders may subtract it from the formula for determining credit, hence resulting in a denied credit application.