Credit card closed - please help!

[Anonymous]

So- today I found out through experian that one of my credit cards was closed for delinquency. Let me start by telling you that I’ve had the card since 1996 with no late payments. I moved this summer and decided to pay of my $11,000 balance and try to live debt free. When I look at the credit summary- it says no payment for August, September, October. I received no bills from them after I paid the balance, and now my FICO score has gone down 100 points! I did not make any additional charges after I paid it off in July. Of course today is Sunday, so I can’t do anything! Has this ever happened to anyone? Please help! Feeling frustrated.

[UpperNwGuy]

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@Anonymous wrote:
So- today I found out through experian that one of my credit cards was closed for delinquency. Let me start by telling you that I’ve had the card since 1996 with no late payments. I moved this summer and decided to pay of my $11,000 balance and try to live debt free. When I look at the credit summary- it says no payment for August, September, October. I received no bills from them after I paid the balance, and now my FICO score has gone down 100 points! I did not make any additional charges after I paid it off in July. Of course today is Sunday, so I can’t do anything! Has this ever happened to anyone? Please help! Feeling frustrated.

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When you paid it off in July, perhaps there was residual interest (also known as trailing interest) covering the days between the statement and your payment.  That would have been charged to your account in the August statement.  Did you check your August statement?  What credit card was this?  Have you called them?  If so, what did they say?

[Anonymous]

That would make sense. It is regions bank. I didn’t get a bill in August, September, or October. Doesn’t it seem like I would receive one before they just close the account and ruin my credit?

[Anonymous]

It's probably residual interest, interest accrued during the last statement date and the day you paid it off which will not post until the next statement. What does it say when you log on?

Always setup autopay and pay attention to all your accounts, even credit reports should have tipped you off during the 3 months time.

[Anonymous]

I did try to call today- waited on hold for 30 minutes only to find out I should call back tomorrow.🙄 Looks like it will be a sleepless night.

[Anonymous]

I did not get online access since I got the card in 1996- lesson learned .😞

[Appleman]

If you were receiving statements, the card company would still generate a statement at least showing you that you paid the $11,000. I agree completely that the trailing interest is what generated a balance.

If you missed one payment and just had a 30 day late that would have a negative impact. Having a 90 day late as you experienced is a FICO killer. Did you happen to move or sign up for electronic statements? I know I have one card that I still receive paper statements for and they ask EVERY time I log in about converting to electronic delivery.

[Anonymous]

I did move, but changed my address. I did not have electronic statements.

[Anonymous]

And- I never received a statement stating I paid the 11,000.

[NRB525]

Sorry to hear this happened OP.
Hopefully someone at Regions will be able to help tomorrow.

As far as number of accounts, have you closed all credit card accounts, or you have no CC accounts showing any balances? You said you wanted to live debt free.