Advanta cancelled me....won't tell me why

[Anonymous]

Hi all,  Just had an odd thing happen.  I was informed that my card was cancelled with no explanation.  I rarely use this card, never missed paying the balance in full and have no other credit issues.  In fact, I have an AMEX centurion card which I have paid in full for years.

Any thoughts?  But mainly, will this affect my FICO score?

Thanks

[Creditaddict]

The Advanta card is a business card so it does not appear on your personal credit file.

sorry to hear about the close, I always worry about the 2 I have, they just keep increasing the interest up and up with no communication when they do it. I just keep it because of my locked in BT!

[Creditaddict]

why bother with advanta, amex obviously likes you, get a business card with them!

[TangMeister]

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@Anonymous wrote:

Hi all,  Just had an odd thing happen.  I was informed that my card was cancelled with no explanation.  I rarely use this card, never missed paying the balance in full and have no other credit issues.  In fact, I have an AMEX centurion card which I have paid in full for years.

Any thoughts?  But mainly, will this affect my FICO score?

Thanks

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Advanta's been doing some serious AA lately.  They're canceling inactive cards and jacking up interest rates to extreme levels.  It shouldn't hurt you as long as you have another business card or two reporting and available.  

Have you tried some of the other Prime card lenders for a business card or credit line?  In this credit chaos, it pays to be diversified and have backups for things such as this.

Good luck!

Message Edited by TangMeister on 10-26-2008 09:45 PM