i applied in may for a bbva compass clear points reward card and was approved for 12k. this december was my first time being late even though i pay in full mos times. i noticed that my card was always declined for the pas few days. i called today to find out that they closed my account without notice. this is a very annoying situation. they said i was carrying huge balances according to transunion.
Sorry to hear this. Not sure which bank BBVA is, but some CCs have been known to do this. Sometimes they CLD or balance chase you, and some will close you outright. You might try calling a backdoor number and recon. When they see you have high util w/other CCs and then you're paying them late -- even the first time -- that's a huge red flag for them. These days, banks are a lot more cautious than they used to be, and the smallest thing can trigger AA w/them. I'm totally paranoid with the cards I have that I'll accidentally forget a due date. Just one late can crash cause a snowball effect on your CR.
You might be able to talk your way into having it reinstated. But with high util on other CCs and a late payment, it's just not likely.
you are right. i have no collections. i just caryy huge balances which i pay off because i use the cards for business which is the reason why i have a high utilization rate.right now my credit score is low until i pay money into the card and let it sit for a while. i always pay full balance and use up within a few days.