Discontinued credit card -help

[Anonymous]

I just got  a letter saying that citi is discontinuing my Home Depot credit card, apparently a business decision on their part. I'm concerned how it will affect my credit score.  My credit score is around 800 now after much work and hate to take a hit because of them and lose that history.  Is there anything I can do to protect myself?  Will this be reported to the credit agencies as their decision and not mine and would that even matter.  I'm upset because this is the card with the highest limit and it's been  easy for me keep my utilization low.

Marybeth

[pattycake]

Have you used the card lately?  If not, that could be why they are closing it. 

[Anonymous]

Guess I need to clarify -citi is closing everyone's accounts.  They are no longer offering this card or program.

[Anonymous]

I have a Home Depot Card through Citi, haven't used it in 2 months. After reading this I went and found a little household item to purchase to use my card. I'll just pay it in full before they report. Hope they don't close mine.

Sorry to here they closed yours.

[Anonymous]

I hope they don't close your too but the letter says that they "will discontinue this program as of October 31, 2009.  After this date your account will be closed and no further pruchases or charges will be accepted."  Also say it had nothing to do with any info regarding my individual account.  I'm so bummed. I had a $20,000 limit on this and have had it a few years. 

[pattycake]

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@Anonymous wrote:
I hope they don't close your too but the letter says that they "will discontinue this program as of October 31, 2009.  After this date your account will be closed and no further pruchases or charges will be accepted."  Also say it had nothing to do with any info regarding my individual account.  I'm so bummed. I had a $20,000 limit on this and have had it a few years. 

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Are you referring to the Visa/MasterCard? 

[Anonymous]

It's a Mastercard.

[pattycake]

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@Anonymous wrote:
It's a Mastercard.

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I think there's a post on the forums about that.  That's the HD card Citi is ending, but the regular Home Depot consumer card is still up and running. 

[Anonymous]

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@Anonymous wrote:

I just got  a letter saying that citi is discontinuing my Home Depot credit card, apparently a business decision on their part. I'm concerned how it will affect my credit score.  My credit score is around 800 now after much work and hate to take a hit because of them and lose that history.  Is there anything I can do to protect myself?  Will this be reported to the credit agencies as their decision and not mine and would that even matter.  I'm upset because this is the card with the highest limit and it's been  easy for me keep my utilization low.

Marybeth

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To answer your original question.  The fact that they closed the card should not hurt you.  What will hurt is if you have a balance on the card when it is closed.

[AndySoCal]

I would call CIti /Home Depot  customer service and see if they will convert the type of Home Depot credit card you have.  Instead of Home Depot Mastercard see if they will convert it to a Home depot consumer credit card with the same credit history.

Message Edited by AndySoCal on 09-18-2009 07:51 PM