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New Visitor
Posts: 3
Registered: ‎08-03-2008
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Accounts closed by credit card companies without notifying me

Hello, My department card was closed by the credit card company for not being used in a year. I didn't even get a letter in the mail. I found out by calling them on a random day for a few questions. They closed it back in Feb 2008 but my account still says Open on all 3 credit reports. My questions from this: 1. Does it lower my score if they close it without telling me? I've had the account for almost 7 years. 2. I heard that removing credit history does lower your score. What should I do in this situation? Thanks, Jason
Valued Contributor
Posts: 1,291
Registered: ‎02-26-2008
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Re: Accounts closed by credit card companies without notifying me

Closed cards still count towards your age. However, if it makes the ratio of cards with a balance go up over 50% it can hurt you. You might be able to ask them to reissue a card to you so that you can use it.
Moderator Emeritus
Posts: 3,417
Registered: ‎12-27-2007
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Re: Accounts closed by credit card companies without notifying me

Take a look at the 'closing credit cards' thread that is stickied at the top of the main CC page. 
 
Did you ask if they could re-open your acct?
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
New Visitor
Posts: 3
Registered: ‎08-03-2008
0

Re: Accounts closed by credit card companies without notifying me

Hi, I asked if they can re-open it but they said they need me to sign up for a new credit application again.
Established Contributor
Posts: 683
Registered: ‎04-05-2008
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Re: Accounts closed by credit card companies without notifying me

If the account still says open on all 3 CRs, it is not affecting your credit scores. Removing credit history does lower your score if it is one of your oldest accounts. CCCs do not need to notify you that they are going to close your account due to inactivity for over 1 year. It still surprises me that some people think their CCs will stay open forever when they are not using them. I had a CCC close an account on me many years ago from non-activity. I wasn't upset about it as it was a kids clothing store card and my child could no longer fit the clothes anyway. If I had known that closing it myself would have been better, I would have done so. Don't know what my score was after the hit as I wasn't actively checking my reports back then.

You need to make a purchase at least every few months to keep your CCs active. Some CCCs will close them for inactivity for 6 months.

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Valued Contributor
Posts: 1,998
Registered: ‎03-31-2008
0

Re: Accounts closed by credit card companies without notifying me

The game has changed use your cards every other month to prevent consolation.

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