Posted on: 21st Apr, 2009 04:52 am
My creditor closed my account and I do not understand i have never been late so I called and they could not give me reason why only told me they received creit report monthly what does that have to do with my account if they were being paid on time. I ask her what If I decided to pay you when I wanted to without any reason.
HI sonyaemcgee,
Welcome to our forum.
I would like to say that, You need to inquire on this case hardly.
You need to know that why the creditor closed your account.
I think they have some miss understandings about your account you need to visit them & give your payment or banks monthly statement to prove that there is not your fault.
Thanks & Regards.
Welcome to our forum.
I would like to say that, You need to inquire on this case hardly.
You need to know that why the creditor closed your account.
I think they have some miss understandings about your account you need to visit them & give your payment or banks monthly statement to prove that there is not your fault.
Thanks & Regards.
old post but answering it so others may learn :D
If you dont use the card the creditor can close the account. This happens a lot. Make sure they didn't report anything negative on your credit report.
Some creditors (when they close your acct) will remove your tradeline from the credit report, and this will hurt your credit score. (especially if you had a good and long history with that acct)
If you dont use the card the creditor can close the account. This happens a lot. Make sure they didn't report anything negative on your credit report.
Some creditors (when they close your acct) will remove your tradeline from the credit report, and this will hurt your credit score. (especially if you had a good and long history with that acct)
It is common to close accounts that are inactive or to lower your credit limit.
Now more then ever the financial institutions are doing it. Why would they provide you with a credit card with a high balance and you do not use it?
They can manipulate the balance sheet so that it goes to somebody that will use it or invest it elsewhere. Banks are about leverage and maintaining the right rations. Now a days they make money by charging fees not lending money.
Now more then ever the financial institutions are doing it. Why would they provide you with a credit card with a high balance and you do not use it?
They can manipulate the balance sheet so that it goes to somebody that will use it or invest it elsewhere. Banks are about leverage and maintaining the right rations. Now a days they make money by charging fees not lending money.
in addition, we have found that credit card issuers are more likely to review users' credit reports to determine if there are potential hazards appearing. if they see what they don't like, they'll take the opportunity to reduce limits, close accounts to further credit, and, of course, to bump rates to usurious levels.
yep...also known as universal default clause which a lot of creditors have now
you are late on 1 card...and the other creditors can raise your interest rate as well
you are late on 1 card...and the other creditors can raise your interest rate as well