When I checked my credit report it said "open account" is a negative factor.
Please tell me what the difference is between an ordinary account and an open account.

Charge accounts are often listed as open accounts because there is no fixed balance.

Is that pertinent to your situation?

Charge accounts are often listed as open accounts because there is no fixed balance.

Is that pertinent to your situation?

Being that it's a "negative factor" I almost wonder if they defaulted or maxed out that particular account.