Can credit card companies close your accounts without warning? How does it affect

Credit and mortgage advice Forums Consumer Credit Improving Your Credit Score Can credit card companies close your accounts without warning? How does it affect

  • This topic has 9 replies, 7 voices, and was last updated 10 years ago by Anonymous.
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    • #206164
      Anonymous
      Inactive

      your credit score? I received a letter in the mail from Juniper (iTunes Rewards) stating that they have closed my credit card account due to inactivity. I opened the account about 18 months ago and have never actually used it. Can they close my account just like that without any warning? How should I handle the situation? (Is there anything I can even do?)

      Also, I know that closing credit card accounts lowers your credit score. Does anyone know how much mine will be affected?



    • #263270
      Anonymous
      Inactive

      Each account is a potential borrower that they have to worry about funding. If you don’t use your account, they will close it and give your slot to someone else.

    • #265365
      Anonymous
      Inactive

      Canceling a credit card can ding your credit because part of your credit score is based on something called a debt-to-credit ratio. When you cancel a credit card, you lower the amount of credit available to you, making that ratio look bigger (and more risky) to creditors..

      15 percent Length of Credit History: “In general, a credit report containing a list of accounts opened for a long time will help your credit score. The score considers your oldest account and the average age of all accounts.”

      35 percent Payment History: “Having a long history making of payments on time and no missed payments on all credit accounts is one of the most important items lenders look for

    • #265808
      Anonymous
      Inactive

      You can talk to the credit card company However considering the current times I don’t know if it will get you the answer you want. The answer to the first question is yes they can

    • #265883
      Anonymous
      Inactive

      Yes they can close your account “just like that.” To keep an account open, you need to use it once or twice a year, minimum.

    • #274777
      Anonymous
      Inactive

      yes they can, read your terms and agreement you received when you applied and accepted the credit card. All credit card usually work different. Or contact them at their 1-800 #.

    • #432766
      Anonymous
      Inactive

      I would say get a book called “credit repair for dummies”. This tells you everything about having bad credit and fixing it. And how to maintain good credit once you get. You can fix your credit yourself. Anyone telling you they can fix it for you is lying. The money you pay them you can use towards one of your debts. Also try calling your local consumer credit counseling service. They can give you advice.

    • #432767
      Anonymous
      Inactive

      no secrets

      pay your bills on time always

      don’t have too much credit

      check your credit file to make sure no errors got on it.

      Once you mess up it will take 5-7 clean years to get back

    • #432768
      Anonymous
      Inactive

      Simple credit repair would cover all of these. It is an affordable way to get results while avoiding the headaches of trying to do it yourself.

    • #432769
      Anonymous
      Inactive

      Сredit repair workеd fine to fix my credit. They disputed and removed lots of bad items from my credit report. I used this service – creditreport.fateback.com

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