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007 · 10-31-2007, 02:20 PM

I received a letter from one of my credit card companies saying they are not going to reissue my card at the end of the month. I have made all payments on time for the last two years. The card has a $3200 limit and I owe $2800 but I have been making slightly more than the minimum payment each month. My credit is not excellent but good. I know I need to call them to find out why they are cancelling the card, but I would appreciate any advice before I call. Can you negoiate making a large payment to prevent cancelling the card? Can you apply for another card and transfer the balance before the original is closed? I just paid off three other cards and a personal loan and was going to start applying all four payments to this card. The timing sucks, but I really want to keep this card. It has a higher limit, a better interest rate, and a good reward points system. I would appreciate any help.<br />

Hawa · 10-31-2007, 02:20 PM

They can close your card at any time for any reason. So if they won't keep the card open there is nothing you can do. You can always call them and ask, but don't expect much.

Since you said this has a good reward point system, it could be a matter that they are doing away with that benefit. Now, if they are going to close it because of this reason, they might be able to offer you another type of card.

JobMixer · 10-31-2007, 02:20 PM

Usually when they decide not to reissue your card, it's a done deal and no amount of begging or sweet-talk will change their mind. You should ask them why, though, just so you know. It could be something as basic as the bank is being merged with another bank and they are de-issuing all the first bank's cards.

For what it's worth, owing $2800 on a $3200 limit and paying just over the minimum isn't going to make your credit good, and it's not going to make you seem like a good risk to the company. So in the future, don't run your bill up so close to the limit and try harder to make larger payments. That might prevent the same thing from happening to you again.

tealeaf · 10-31-2007, 02:20 PM

First you need to call your credit card company and speak to them, ask why they have chosen not reissue your card. Then see what options they can offer you, talk to a supervisor if you can't get anywhere. Don't be angry or rude, because the customer service rep will not be inclined to help you if you are. Next see if you can reapply(if they wont reissue) and last if you can't your best option would be to close the card before they close it on you. Then your credit report will show that the account was closed by you and not by the bank, which will impact your credit negatively.

lenia · 10-31-2007, 02:20 PM

I think they should have to give you a letter specifically stating
why, in the meantime I would contact a Consumer Law
Attorney (especially after you get a copy of your credit reports and see how they reported it) and I would turn them
in for an Investigation into their practices by the State Attorney
General Office of the State they reside in. And I would
also Contact the Federal Trade Commission.
Negotiate if you can but make them put it in writing !!!!
creditinfocenter com

Ross · 10-31-2007, 02:20 PM

You can try to call to find out the problem. Of course, this won't necessarily resolve the situation, but at least you will know what the problem is.

You can also apply for another card before you make the call, but of course if you do that, and they rethink their position, then they will see it on your report, and this will lower your score.

So, where did you get the funds to apply to the other loans if you were planning on using this card to pay down the others?

vanGoog · 10-31-2007, 02:20 PM

"I would contact a Consumer Law
Attorney (especially after you get a copy of your credit reports and see how they reported it) and I would turn them
in for an Investigation into their practices by the State Attorney
General Office of the State they reside in. And I would
also Contact the Federal Trade Commission."

They do NOT have to provide you a reason it is clearly stated in the agreement they may cancel the agreement anytime without warning.

Investigation of what?

To the asker call and see what happened it could just be a mistake not worth losing sleep over. If that is the case then you need to pay that card down to at least 30 percent of the credit limit and keep it that low.

Your credit might not be good enough to get another card so try to keep this one. That high of a balance on that limit is going to very negatively impact your scores.

Good Luck

10-31-2007, 02:20 PM	#1
007 Greenhorn Join Date: Jul 2006 Posts: 16 Rep Power: 0	Can you do anything to prevent a credit card account from being closed once you have received notice? I received a letter from one of my credit card companies saying they are not going to reissue my card at the end of the month. I have made all payments on time for the last two years. The card has a $3200 limit and I owe $2800 but I have been making slightly more than the minimum payment each month. My credit is not excellent but good. I know I need to call them to find out why they are cancelling the card, but I would appreciate any advice before I call. Can you negoiate making a large payment to prevent cancelling the card? Can you apply for another card and transfer the balance before the original is closed? I just paid off three other cards and a personal loan and was going to start applying all four payments to this card. The timing sucks, but I really want to keep this card. It has a higher limit, a better interest rate, and a good reward points system. I would appreciate any help.<br />

10-31-2007, 02:20 PM	#2
Hawa Greenhorn Join Date: Jul 2006 Posts: 29 Rep Power: 6	Can you do anything to prevent a credit card account from being closed once you have received notice? They can close your card at any time for any reason. So if they won't keep the card open there is nothing you can do. You can always call them and ask, but don't expect much. Since you said this has a good reward point system, it could be a matter that they are doing away with that benefit. Now, if they are going to close it because of this reason, they might be able to offer you another type of card.

10-31-2007, 02:20 PM	#3
JobMixer Greenhorn Join Date: Jul 2006 Posts: 18 Rep Power: 0	Can you do anything to prevent a credit card account from being closed once you have received notice? Usually when they decide not to reissue your card, it's a done deal and no amount of begging or sweet-talk will change their mind. You should ask them why, though, just so you know. It could be something as basic as the bank is being merged with another bank and they are de-issuing all the first bank's cards. For what it's worth, owing $2800 on a $3200 limit and paying just over the minimum isn't going to make your credit good, and it's not going to make you seem like a good risk to the company. So in the future, don't run your bill up so close to the limit and try harder to make larger payments. That might prevent the same thing from happening to you again.

10-31-2007, 02:20 PM	#4
tealeaf Greenhorn Join Date: Jul 2006 Posts: 12 Rep Power: 0	Can you do anything to prevent a credit card account from being closed once you have received notice? First you need to call your credit card company and speak to them, ask why they have chosen not reissue your card. Then see what options they can offer you, talk to a supervisor if you can't get anywhere. Don't be angry or rude, because the customer service rep will not be inclined to help you if you are. Next see if you can reapply(if they wont reissue) and last if you can't your best option would be to close the card before they close it on you. Then your credit report will show that the account was closed by you and not by the bank, which will impact your credit negatively.

10-31-2007, 02:20 PM	#5
lenia Greenhorn Join Date: Jul 2006 Posts: 18 Rep Power: 0	Can you do anything to prevent a credit card account from being closed once you have received notice? I think they should have to give you a letter specifically stating why, in the meantime I would contact a Consumer Law Attorney (especially after you get a copy of your credit reports and see how they reported it) and I would turn them in for an Investigation into their practices by the State Attorney General Office of the State they reside in. And I would also Contact the Federal Trade Commission. Negotiate if you can but make them put it in writing !!!! creditinfocenter com

10-31-2007, 02:20 PM	#6
Ross Greenhorn Join Date: Jul 2006 Posts: 18 Rep Power: 0	Can you do anything to prevent a credit card account from being closed once you have received notice? You can try to call to find out the problem. Of course, this won't necessarily resolve the situation, but at least you will know what the problem is. You can also apply for another card before you make the call, but of course if you do that, and they rethink their position, then they will see it on your report, and this will lower your score. So, where did you get the funds to apply to the other loans if you were planning on using this card to pay down the others?

10-31-2007, 02:20 PM	#7
vanGoog Greenhorn Join Date: Jul 2006 Posts: 8 Rep Power: 0	Can you do anything to prevent a credit card account from being closed once you have received notice? "I would contact a Consumer Law Attorney (especially after you get a copy of your credit reports and see how they reported it) and I would turn them in for an Investigation into their practices by the State Attorney General Office of the State they reside in. And I would also Contact the Federal Trade Commission." They do NOT have to provide you a reason it is clearly stated in the agreement they may cancel the agreement anytime without warning. Investigation of what? To the asker call and see what happened it could just be a mistake not worth losing sleep over. If that is the case then you need to pay that card down to at least 30 percent of the credit limit and keep it that low. Your credit might not be good enough to get another card so try to keep this one. That high of a balance on that limit is going to very negatively impact your scores. Good Luck

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