Company cancels account

Due to a bad co-signing decision and being the sole caretaker of an elderly parent, my credit is an absolute mess. However, I've been slowly getting back on track, even though I have miles to go.

I had several credit cards that I have not used and paid off the balance. I did not cancel them after they were paid because according to what I have read, that is not a good idea. However, the companies cancelled the account due to my situation even thought I was never late with payments. My question is: If a company cancels the account, is that worse than if I had or if it had just laid dormant? I feel as if it is always one step forward, two steps back.

Thank you for your help.

1 Answers

Laying dormant is still positive....zero balance accounts. Closing by the lender is not good. You probably should have made small charges quarterly and then paid them off.

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