Discontinued Cards Question

[Anonymous]

So I was reading another OP's thread, which brought about a question... So, regarding cards issued by the Big 5 -- if you have one of their cards... Say I have a Citi DC... or a BoA CR... And they discontinue DC & CR... Would Citi & BOA offer to convert them to some other card, or just close them out? 🤔

[SouthJamaica]

---

@Anonymous wrote:

So I was reading another OP's thread, which brought about a question... So, regarding cards issued by the Big 5 -- if you have one of their cards... Say I have a Citi DC... or a BoA CR... And they discontinue DC & CR... Would Citi & BOA offer to convert them to some other card, or just close them out? 🤔

---

Usually they just let the old accounts stay open, even though they have stopped offering the card to new applicants.

[notmyrealname23]

---

@Anonymous wrote:

So I was reading another OP's thread, which brought about a question... So, regarding cards issued by the Big 5 -- if you have one of their cards... Say I have a Citi DC... or a BoA CR... And they discontinue DC & CR... Would Citi & BOA offer to convert them to some other card, or just close them out? 🤔

---

¯\_(ツ)_/¯

Depends on what the issuer decides. They can literally close you out for no reason at all other than "they felt like it" (as long as they don't do it for a legally prohibited reason).

There are some cards that are discontinued for NEW applicants that aren't for EXISTING applicants, there are some where you get converted. It really depends on what the issuer decides.

[Anonymous]

@SouthJamaica @notmyrealname23 Thank you both. So that sounds reasonable. For people like me (new to credit) closing a card would just be a mild annoyance... But for these well aged bottles of champagne I see some OP's carrying -- it would be a very sad ordeal... To just randomly have a 30 year old $100,000 card shut down for no truly valid reason other than "because"... I would cry!!! 😭😂

[Anonymous]

---

@notmyrealname23 wrote:

---

Depends on what the issuer decides. They can literally close you out for no reason at all other than "they felt like it" (as long as they don't do it for a legally prohibited reason).

---

Actually, I think "they felt like it" is perfectly legal, unless, as you suggest, they felt like it because of your gender/race/age/vet status etc

[Anonymous]

---

@Anonymous wrote:

@SouthJamaica @notmyrealname23 Thank you both. So that sounds reasonable. For people like me (new to credit) closing a card would just be a mild annoyance... But for these well aged bottles of champagne I see some OP's carrying -- it would be a very sad ordeal... To just randomly have a 30 year old $100,000 card shut down for no truly valid reason other than "because"... I would cry!!! 😭😂

---

Well, the age would stick around for another 10 years or so, and a card is unlikely to close for no truly valid reason (lack of use being a common one when the credit profile itself is fine).

Going back to your question, there's a range that can happen over time.   Take, for example, the Citi Forward, which was a too-good-to-be-true card, but not always appreciated as such!

First of all, that card was blocked from new applications, but for those that had it, it continued as before.   Then, after quite a while (two years?) it was nerfed greatly, so it no longer had any special value.   Then, after another while, it was force converted to another card in the Citi line up.    

[blindambition]

Sometimes a lender will grandfather card, but close to new applicants. Sometimes they'll convert to another card program.

I have a Chase Freedom, recently closed to new applicants, but grandfathered. Option to PC, but not forced to do so.

Usually a forced conversion may be related to an ending partnership on a cobranded card.

[Anonymous]

@Anonymous You've peaked my interest. Lol What was so great about the Citi Forward card?

[Kforce]

I have had issuers that just close the card.

Most issuers stop issuing new, let it ride for a time then product change.

Some seem to grandfather old cards and let them live for at least a few years.

Others product change the moment they want to end a card

I have a FNBO grandfathered 3% cashback Visa. (~4 years now)

Same time FNBO just notified "Amex Travelite" owners that it was being product changed from a travel card to a 1.5% cashback.

Same issuer, different paths for different cards.

---

[notmyrealname23]

---

@Anonymous wrote:

---

@notmyrealname23 wrote:

---

Depends on what the issuer decides. They can literally close you out for no reason at all other than "they felt like it" (as long as they don't do it for a legally prohibited reason).

Actually, I think "they felt like it" is perfectly legal, unless, as you suggest, they felt like it because of your gender/race/age/vet status etc

---

Yes, that's what I mean to say: lenders do not have to accept your business unless they discriminate for a legally impermissible reason. They can close an account at any time otherwise, for any (legal) reason at all, including "don't wanna".