| Posted By |
Message |
Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
|
Question about bank closing credit card
I got a notice in the mail today from Chase (used to be a WaMu card) that they closed my account b/c I haven't used it in a long time. Aren't they supposed to send me a letter before hand telling me my account is in danger of being closed? Does this hurt your credit?
|
Posted 7/31/09 6:39 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
jgl
Love my little boys!!!
Member since 8/07 7060 total posts
Name:
g
|
Re: Question about bank closing credit card
lately these CC cos have been so sneaky. they have been lowering credit lines as well with out telling people ahead of time. they did this to me and i have excellent credit. i only found out my CL was lowered when i got my statement. but i hear they are doing this because of the economy
i def think they should have informed you of this.
Message edited 7/31/2009 10:44:31 PM.
|
| Posted 7/31/09 10:44 PM |
| |
|
JenMarie
One day at a time
Member since 11/07 7397 total posts
Name:
Jennifer
|
Re: Question about bank closing credit card
I had one bank close one card on me for inactivity. I think 1 or 2 credit lines have been cut as well. It's been known for a while now that they've been doing this because of the economy. It lowers your available credit which messes with your debt to credit ratio but your score should even out.
|
| Posted 7/31/09 11:43 PM |
| |
|
Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
|
Re: Question about bank closing credit card
Posted by JenMarie
I had one bank close one card on me for inactivity. I think 1 or 2 credit lines have been cut as well. It's been known for a while now that they've been doing this because of the economy. It lowers your available credit which messes with your debt to credit ratio but your score should even out.
I know! Not that it had a huge limit but I was never sent a letter letting me know. Aren't they supposed to...something along the lines if the card is used by x date they will close it?
|
| Posted 8/1/09 11:09 AM |
| |
|
KLSbear
LIF Adult
Member since 1/06 1908 total posts
Name:
Karen
|
Re: Question about bank closing credit card
Go to www.chase-sucks.com and check out the posts there. Chase has been messing with a lot of people on CC, HELOC's, etc.
|
| Posted 8/1/09 11:19 AM |
| |
|
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
|
Re: Question about bank closing credit card
Posted by KLSbear
Go to www.chase-sucks.com and check out the posts there. Chase has been messing with a lot of people on CC, HELOC's, etc.
Chase is the absolute WORST bank out there. The WORST!
I can't think of one thing they are actually GOOD at. They suck in every categoy.
In regards to the OP's original question, no they don't have to inform you it's in danger of being closed.
I wouldn't worry too much about it being closed unless it had a very high credit limit that can skew your debt/available credit ratios.
|
| Posted 8/1/09 1:31 PM |
| |
|
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: Question about bank closing credit card
Yep Chase closed one of DH's cards. Not mine though which is on the same credit line. I bet they did close mine and I don't even know it.
|
| Posted 8/2/09 12:04 AM |
| |
|
charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
|
Re: Question about bank closing credit card
Same thing happened to me a whole ago. They don't have to give you any notice. A lot of companies are doing this if you don't use your cards, to limit their exposure.
|
| Posted 8/2/09 8:42 AM |
| |
|
heathergirl
Cocktail Time!
Member since 10/08 4978 total posts
Name:
American mouth
|
Re: Question about bank closing credit card
They did it to me w/o notice also 
|
| Posted 8/2/09 10:36 AM |
| |
|
angelbear217
Mommy of 2
Member since 5/05 4313 total posts
Name:
Lisa
|
Re: Question about bank closing credit card
Chase did this to me and recently did this to DH. Both times it was without notice. We are trying to increase our credit scores and this did not help.
|
| Posted 8/2/09 11:54 AM |
| |
|
