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#465745 - 08/22/19 05:39 AM Interpretation of credit history of tenancy applicants
Pathfinder Offline
Member

Registered: 03/08/06
Posts: 71
Loc: Miami, Florida
I am using an online tenant screening service to do credit, eviction, criminal, bankruptcy checks etc...and I need some help in the interpretation of the results.

The applicant has a series of credit cards that looks like this:

CREDITOR = AMEX
OPEN DATE = 05/01/2004
LOAN TYPE = CREDIT CARD
CREDIT LIMIT = $13000
BALANCE = $8425.00
PAST DUE = $8425.00
STATUS DATE = 04/15/2019
STATUS = CLOSED
COMMENTS = ACCOUNT CLOSED BY CREDIT GRANTOR

The applicant has six credit cards of this nature with high balances that were closed by the credit grantor. All happened in 2019.

First, what does this mean? Does it mean the applicant maxed out his cards, then refused to pay, and eventually the CC company closed his account and wrote it off as a loss?

Because the accounts are closed the screening service says "active credit card balance" is $500, and does not take into consideration of the total of $5000+ in all those accounts that were closed.

Is my interpretation that those accounts are debts that were never paid?

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#465747 - 08/22/19 02:56 PM Re: Interpretation of credit history of tenancy applicants [Re: Pathfinder]
JohnN Offline
Member

Registered: 11/21/13
Posts: 261
Loc: Minnesota
I believe your interpretation is correct. The accounts were closed by the credit card company and they may be pursuing legal action against the individual.

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