In my credit report, one creditor wrote: "Credit line closed to further purchases"? Is that bad or good?

I closed my account a year ago and paid the account in full. Now one of my creditor reported me as "credit line closed to further purchases". I'm afraid this entry may hurt me or work for me. I have no idea. Please help!

Answer:
As the other answerer said, the important thing is whether the credit report says the account was cancelled by creditor or at request of customer. If it is cancelled by the creditor that is a negative status and will hurt your credit score. If it was cancelled at your request it won't hurt you and, if you payment history was good, might help your credit score.

The first thing you need to do is get a recent copy of your credit report. You can get a free credit report and credit score at http://smart-money-help.com/free-credit-. . Even if you have seen your credit report you need to request a new one. Things get added to the report all the time and some of them might not be accurate. Getting rid of the errors and challenging everything is the next step in fixing things. Also, you don't need to pay someone to fix your credit report. There is nothing someone else can do that you can't do yourself. That same website also offers a free credit repair kit. The free kit and the free credit report are all you need to start getting your credit repaired. You can get the free credit repair kit at http://smart-money-help.com/free-credit-. .
I am only guessing it means you have paid off your account AFTER you closed the account. I would call the company and have them change the language to "closed." You may have to write them a letter.
Spot is correct.

What you do next depends on a couple of things. Did you have any late payments on it? If so, it would probably be to your advantage to get the entire line removed from your credit history.

If there were no late payments, then it will help your credit history to keep it there. But currently it reflects that the account is closed, by the CREDITOR! This does not look good to other creditors.

Look at your credit report. Does it show a balance? If so, and you can prove you paid it off, then send a dispute letter to the credit burear and demand that the listing be changed to "closed at customers request", and show there is no balance on it.
Write the CC company or write the Credit Reporting companies

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