Credit Card Cancelled?

[Gretel]

Can the issuing bank just close your account without telling you? And if so why do they do this? (It was a Home Depot account)

 

[jenrose66]

They can. They will cancel a card for non use. It's happened to me.

 

[Gretel]

Well gee, at least they could notify a person

 

[vicki_c]

I had a card cancelled like that last year - no notice at all that I recall. I went to do something with it - maybe I called because he hadn't gotten replacement cards when they expired. And when I called they said "oh we cancelled your account xx months ago" - guess that's why no cards.

It was a card I didn't need, but I found it irritating because that's that much less in available credit that I have in my credit score, and it wasn't for any bad reason like non-payment just for not using it.

I think our Apple account was closed a few years ago as well (non-use), but at least they sent a letter.

 

[ratlenhum]

things like that are listed in the pages of tiny little print that you get when you open a card that no one reads.

 

[cinabug]

They will also just lower your balance until the account is effectively closed. I have on at my bank that has a limit of zero. It shows up on my accounts overview as an open account, but obviously I couldn't actually use it. I have good credit, so they obviously closed it because of lack of use. They can and will do any number of things without any really good reason.

About two years ago, I had a card send balance transfer checks with a great rate. I decided to transfer a balance from another card. The issuing bank decided to lower my limit and the check bounced. Even though I had made the minimum payment with real funds, the card I was trying to transfer from charged me a bounced check fee and raised my rate. I no longer do business with either of these card issuers (citi & chase), but I imagine the same thing could have happened with any issuer. It was right at the time of the banking meltdown, so I don't know if that was part of the reason cards were doing those things at the time. Interestingly, none of this shows on my credit report, and my credit score didn't seem to change. It's all beyond me.

 

[tar heel]

This happened to me, too, with Home Depot. I was buying a dryer and planning to do the six months interest free. They tried to get me to apply for another one, and I told them I would shop at Lowe's instead. I had had the card more than 10 years.

I called customer service and complained. They said it was their policy not to notify you when it was cancelled b/c it hadn't been used lately. Absolutely ridiculous policy IMO.

I have a Sears card that hasn't been used in three or four years. I'm assuming it's still open since I get offers from them once in a while.

 

[cvjw]

GAP also closes your account for non-use. Went to pay for something with my GAP card only to find out that it had been closed. I was never notified either.

 

[rock_doctor]

Yea, due to non-use. I have had probably a dozen cards cancelled in the last two years due to non-use and no balance due. You have to reapply. So i would wait until HD or Lowes is running a deal. 10% off with a new CC account and just get what you need then. Also remember if you run by your local post office and ask for a movers packet there is a 10% Lowes coupon. They do not care if you are moving or what ever. HD will also take the Lowes coupon right at the register and better then that Lowes will let you stack discounts. I just converted my alumn clad windows to vinyl and stacking discounts i got them for 30% off plus Lowes cheap vinyl replacements are made by Pella with a lifetime warranty...

 

[Planogirl]

Yea, due to non-use. I have had probably a dozen cards cancelled in the last two years due to non-use and no balance due. You have to reapply. So i would wait until HD or Lowes is running a deal. 10% off with a new CC account and just get what you need then. Also remember if you run by your local post office and ask for a movers packet there is a 10% Lowes coupon. They do not care if you are moving or what ever. HD will also take the Lowes coupon right at the register and better then that Lowes will let you stack discounts. I just converted my alumn clad windows to vinyl and stacking discounts i got them for 30% off plus Lowes cheap vinyl replacements are made by Pella with a lifetime warranty...

OT but did Lowes do the installation? We need some window work done and I'm mulling over who to use.

As for the topic, people call the credit bureaus all the time to ask why their accounts were closed. Um, ask the company that closed them maybe?

 

[cm8]

Can the issuing bank just close your account without telling you? And if so why do they do this? (It was a Home Depot account)

Yes, and some claim they are just limiting their liabilities so by closing the account that money can be listed on their sheets as a positive flow of income vs loss. The only way I know to avoid that from happening in the future is to take the card and buy something cheap like gum, soda, a pack of nails or something and pay it off, it gives you the usage and you still have access to the card


I had that happened to one of my cards too, I was just about to use that sucker too

 

[marie1203]

Yes the can. Nest buy closed DH account without letting us know, he didn't use that account. We found out months later when I was checking our credit report!

 

[angierae]

Best Buy will do this, too. We had to reopen our account to buy a laptop a couple years ago because we tend to do the 18 months no-interest and then not use the card again until we're ready for our next big-ticket item.

 

[girli565]

Yes, my Spirit Air card was cancelled for non-use. I was saving my miles but oh well.

 

[lost*in*cyberspace]

This just happened to me as well with a Dell account. It was closed with no notice for non-use.

 

[Bell30012]

Both Best Buy and Home Depot closed my accounts for lack of use. Best Buy at least sent me a letter. I found out that Home Depot had done it at the register. Thinking it was some kind of error, I whipped out my Visa and still purchased the items that I had just rang up. Had I known the reason for the card decline at that time, I'd have went up the street to Lowe's on principle.

 

[PrincessSuzanne]

Sears will do it to you even if you still use the card, well CitiBank, that is, and they are not nice about it at all. They decided DH had too much credit, so they lowered it without notice, only when I went to purchase brakes for our van did I find that out, then a few weeks later, they just cancelled it completely, out of the blue and we have been loyal Sears customers for many years.

I won't be shopping there again for a long time, probably never.

I have never had this happen with any other card. WaMu at least sent us a letter telling us that they were closing our accounts for non-use. A short time later, they were bought out by Chase, I believe.

Suzanne

 

[eliza61]

I thought they had to notify you. I have had cards close due to inactivity.

 

[MrsJackSparrow4Life]

I have had that happen all the time with the store cards. I usually only use them for big purchases so there is 2-3 years in between use.

However I have never had any issues with them reopening the account. Usually takes a 5 minute phone call and all the accounts show up on my credit report with the initial start up dates.

 

[Shmily1]

Most of these store cards are financed by the same banks so it's usually the same for the ones at the same bank. Home Depot did that to me too. They called from the store and said it was for non-use and did I want to renew. I told them no, that if they didn't need me to have it, I certainly didn't need it. I went across the street and paid cash at Lowe's!!