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Closed by Consumer vs. Closed by Creditor
A closed credit card account will show up on your credit report as either "Closed by Consumer" or "Closed by Creditor". The words may not be exactly the same, but a close variation should easily be found on your credit reports. So, which one of these notations packs more of a punch when it comes to your credit score?
While closed credit card accounts generally have a negative effect on your credit score, it actually doesn't make a difference whether your creditor shut down the line or you requested the closure. According to Ron Griffin, a director at Experian, "which party closed the account has no bearing on a credit score."
However, don't forget that lenders may express concern when they take a closer look at your credit reports and find several accounts closed by creditors. They prefer to see accounts closed by you, not your credit card company.
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