topic credit card closed account question. in Credit Cards

credit card closed account question.

legacys7 — Mon, 14 Apr 2014 15:09:24 GMT

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.

Re: credit card closed account question.

myjourney — Mon, 14 Apr 2014 15:16:16 GMT

@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

Re: credit card closed account question.

Anonymous — Mon, 14 Apr 2014 15:24:44 GMT

@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.........

Re: credit card closed account question.

myjourney — Mon, 14 Apr 2014 15:29:09 GMT

@Anonymous 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

Re: credit card closed account question.

legacys7 — Mon, 14 Apr 2014 16:33:22 GMT

@myjourney wrote:
@Anonymous 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.

Re: credit card closed account question.

Anonymous — Mon, 14 Apr 2014 16:44:05 GMT

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