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credit card closed account question.

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legacys7
Regular Contributor

credit card closed account question.

Can a bank closed your credit card account that is debt free? I got a notification from equifax, stating that my account is closed. Long story short, bank of satan tells me that they decided not to nenew my card after reviewing my credit report due to concerns on my report. Talk about a **bleep** moment. I have had the card since 2006. Only had 2 late payments back in 2009. I hadn't used the card I think since 2012 or 13. At first I'd thought they'd closed it due to no activity and seeing the new date was today, they decided to close. Apparently that wasn't the case. Can they close your account like that base on what they'd told me? My score went down too after that.

Message 1 of 6
5 REPLIES 5
myjourney
Super Contributor

Re: credit card closed account question.


@legacys7 wrote:

Can a bank closed your credit card account that is debt free? I got a notification from equifax, stating that my account is closed. Long story short, bank of satan tells me that they decided not to nenew my card after reviewing my credit report due to concerns on my report. Talk about a **bleep** moment. I have had the card since 2006. Only had 2 late payments back in 2009. I hadn't used the card I think since 2012 or 13. At first I'd thought they'd closed it due to no activity and seeing the new date was today, they decided to close. Apparently that wasn't the case. Can they close your account like that base on what they'd told me? My score went down too after that.


Sorry to say yes they can close an account for any reason 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 6
JoshuaHolySpirit
Frequent Contributor

Re: credit card closed account question.


@myjourney wrote:

@legacys7 wrote:

Can a bank closed your credit card account that is debt free? I got a notification from equifax, stating that my account is closed. Long story short, bank of satan tells me that they decided not to nenew my card after reviewing my credit report due to concerns on my report. Talk about a **bleep** moment. I have had the card since 2006. Only had 2 late payments back in 2009. I hadn't used the card I think since 2012 or 13. At first I'd thought they'd closed it due to no activity and seeing the new date was today, they decided to close. Apparently that wasn't the case. Can they close your account like that base on what they'd told me? My score went down too after that.


Sorry to say yes they can close an account for any reason 


That's a bummer.........

Capital One QS1, Capital One Journey, Williams-Sonoma Visa, Amex Travelocity, Chase Slate, Amex SPG, Amex Blue Sky, Bank of America Travel Rewards, JCPenney...and more ( Holy Spirit rocks-!! ) TU-Fico-777
Message 3 of 6
myjourney
Super Contributor

Re: credit card closed account question.


@JoshuaHolySpirit wrote:

@myjourney wrote:

@legacys7 wrote:

Can a bank closed your credit card account that is debt free? I got a notification from equifax, stating that my account is closed. Long story short, bank of satan tells me that they decided not to nenew my card after reviewing my credit report due to concerns on my report. Talk about a **bleep** moment. I have had the card since 2006. Only had 2 late payments back in 2009. I hadn't used the card I think since 2012 or 13. At first I'd thought they'd closed it due to no activity and seeing the new date was today, they decided to close. Apparently that wasn't the case. Can they close your account like that base on what they'd told me? My score went down too after that.


Sorry to say yes they can close an account for any reason 


That's a bummer.........


Yes it is 

OP I forgot to add you can call and ask for reconsideration but its a slim hope but worth a try for the phone call 

Good luck 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 4 of 6
legacys7
Regular Contributor

Re: credit card closed account question.


@myjourney wrote:

@JoshuaHolySpirit wrote:

@myjourney wrote:

@legacys7 wrote:

Can a bank closed your credit card account that is debt free? I got a notification from equifax, stating that my account is closed. Long story short, bank of satan tells me that they decided not to nenew my card after reviewing my credit report due to concerns on my report. Talk about a **bleep** moment. I have had the card since 2006. Only had 2 late payments back in 2009. I hadn't used the card I think since 2012 or 13. At first I'd thought they'd closed it due to no activity and seeing the new date was today, they decided to close. Apparently that wasn't the case. Can they close your account like that base on what they'd told me? My score went down too after that.


Sorry to say yes they can close an account for any reason 


That's a bummer.........


Yes it is 

OP I forgot to add you can call and ask for reconsideration but its a slim hope but worth a try for the phone call 

Good luck 


Yeah. I was in the midst of trying that before I'd posted my question on here. I told them that I would call them back. My hunch is it had nothing to do with me being a credit risk, because over the years that I had that card, which was initially a unsecured card, my credit sucked. Anyways. I'm wagering that it had more to do with the year inactive.  bank of America is pretty strict when it comes to credit cards. My chase cards are better anyways. 

Message 5 of 6
john398
Senior Contributor

Re: credit card closed account question.

This is why some experts say to use a card twice a year

Message 6 of 6
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