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Elderly have credit cards cancelled because they aren't used often.

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Elderly have credit cards cancelled because they aren't used often.

My mom has perfect credit, always paid in full, owns an apartment building, and had her Bank of America credit card cancelled because she doesn't use it very often!  And now has no FICO score...and can't get a credit card. From Bank of America.  She's 94, but still has a whole lotta spendin' to do.  What should we do?
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Re: Elderly have credit cards cancelled because they aren't used often.

How long ago was this card cancelled?  Was it literally the ONLY item on her report generating a score for her?

 

If so, and if the cancellation has only just happened, you/she might try calling one of the Backdoor Numbers for BofA (see link in my signature) and see if you/she can talk one of their reps into reopening her account.  If you/she do try that, be sure to explain that she didn't know her card could be cancelled for lack of use and that, now that she understands, she will make sure to use it regularly.

 

If that's not an option or doesn't work, see if they'll let her start over with them with a secured card.

 

If you/she do get her card reinstated or get a secured card opened, do make sure that card is used AT LEAST once ever 2-3 months, preferably once a month, for some small purchase or other to keep the card active.

 

Hope this helps.

 

 

_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

Backdoor Numbers, Credit Scoring 101, Understanding Your FICO Score PDF
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