Re: Banks Closeing Credit Cards Accounts!!
[ Edited ]
03-22-2012 09:17 AM - edited 03-22-2012 09:18 AM
I got burned by Chase back in 2009 when I started shopping around for a mortgage. When the INQs hit they closed a $0 balance card that I rarely used. Citi burned me in 2010 when I made min payments for a few months in a row. At the time there was a lot of talk about the "sky falling" and everyone was saying to stockpile cash, so that's what I did. I cut back on payments and padded cash savings instead. Citi closed my account at about 40% UTL with no warning. I was never late on payments.
This might just have been the banks tightening their belts, but I took it personal. I won't do business with either bank again. Seems like a poor way to treat otherwise good customers.