topic Re: Closeing accounts!!! in Credit Cards

Banks Closeing Credit Cards Accounts!!!

corymcd88 — Tue, 20 Mar 2012 02:21:57 GMT

What bank seam like to close out your credit card without any cause? Too many new account or too manny new INQ's?

Re: Closeing accounts!!!

LS2982 — Tue, 20 Mar 2012 02:08:39 GMT

corymcd88 wrote:
What bank seam like to close out your credit card without any cause? Too many new account or too manny new INQ's?

Barclays, BofA on occasion. Really any bank can if they manually review your file and get spooked.

Re: Closeing accounts!!!

corymcd88 — Tue, 20 Mar 2012 02:11:27 GMT

LS2982 wrote:
corymcd88 wrote:
What bank seam like to close out your credit card without any cause? Too many new account or too manny new INQ's?
Barclays, BofA on occasion. Really any bank can if they manually review your file and get spooked.

What about GE? I know that anyone can close it out. Barclays is one of the worce that i have herd.

Re: Closeing accounts!!!

Ron1 — Tue, 20 Mar 2012 02:13:45 GMT

BofA, Barclays, HSBC, Chase,Wells Fargo,Amex.

Ron.

Re: Closeing accounts!!!

corymcd88 — Tue, 20 Mar 2012 02:17:59 GMT

Ron1 wrote:
BofA, Barclays, HSBC, Chase,Wells Fargo,Amex.

Ron.

HSBC and Wells Fargo!! Did not know! What about Capital One?

Re: Closeing accounts!!!

Walt_K — Tue, 20 Mar 2012 02:51:46 GMT

OP asked for banks that would close without any cause. Does that apply to all of the ones listed? Barclays is the closest from what I've seen on the boards. It's not completely without cause, but they seem to be hypersensitive to additional inquiries and new accounts according to several people's experience. Outside of the credit crunch, I don't recall seeing a lot of threads about other banks randomly closing down accounts.

ETA: Rereading I see OP also asked about too many new accounts/inquiries. But I read it as being who is hypersensitive. Barclays is the only one I really recall reading about being ovely sensitive.

Re: Closeing accounts!!!

Ron1 — Tue, 20 Mar 2012 03:27:58 GMT

Not Capital One. May be Citi.

Ron.

Re: Banks Closeing Credit Cards Accounts!!!

corymcd88 — Thu, 22 Mar 2012 03:17:30 GMT

corymcd88 wrote:
What bank seam like to close out your credit card without any cause? Too many new account or too manny new INQ's?

What about GE Capital?

Re: Banks Closeing Credit Cards Accounts!!!

LS2982 — Thu, 22 Mar 2012 09:30:36 GMT

I'm pretty much ready for AA from Barclays. I have what I want and i'll utilize and pay on it proper. If they don't like it close the account.

Re: Banks Closeing Credit Cards Accounts!!!

WunderCard — Thu, 22 Mar 2012 16:18:38 GMT

I got burned by Chase back in 2009 when I started shopping around for a mortgage. When the INQs hit they closed a $0 balance card that I rarely used. Citi burned me in 2010 when I made min payments for a few months in a row. At the time there was a lot of talk about the "sky falling" and everyone was saying to stockpile cash, so that's what I did. I cut back on payments and padded cash savings instead. Citi closed my account at about 40% UTL with no warning. I was never late on payments.

This might just have been the banks tightening their belts, but I took it personal. I won't do business with either bank again. Seems like a poor way to treat otherwise good customers.

Re: Banks Closeing Credit Cards Accounts!!!

rena347 — Thu, 22 Mar 2012 17:15:59 GMT

My husband just got a letter from GE Capital today that they closed his account. It was a Home Design - Outdoor Living/GECRB card. He opened the account in December 2010 to buy furniture. Purchased $3548 but they gave him a $6500 credit limit. The promotion was for 0% interest for one year and any other purchases were at 23.99%. We paid $300 a month so as to make sure we got the balance paid by the end of the 0% promotional period. Paid the last payment in December 2011. When I called to pay it off, the CSR said if we didn't use it in 6 months that it would be closed. The letter he received today stated that the account was closed on March 11 so that is actually 3 months since the last payment.