Credit cards closed by themselves

[sze5003]

They said "Go ask ATOT since they know everything and have final authority in all matters." obviously!

Customer service didn't even know why they were closed. They were like well there is a zero balance on the account and you never had late payments the card should still be available to use.

 

[Anonemous]

They charge the merchants a fee every time you transact so they will always make some money off you.

Interesting note. Merchants can't charge you a fee for using the credit card as it's against the agreement with the two credit card companies. Go ahead and let your bank know if they ever do.

Also merchants are not allowed to set a spending limit in order to use credit cards (ie $20 or more to use CC), but they still do it.

 

[manly]

I do.t remember but I think in 2009 or 2010 I got the first best buy card. I might have had it longer before they switched and not used it without it being closed. I cant remember. I just hope it won't happen to my non store cards because I keep them open and balance free usually incase someone needs an odd some of money to pay for something where getting.it out my bank is not an option as I have other stuff that needs paid.

Use your credit cards at least once every couple years to keep the accounts open.

During the height of the financial crisis in 2008, Chase cancelled my accounts that had not been used in years. At the time, pretty much every U.S. bank was trimming back credit lines but Chase was being extra cautious.

 

[jupiter57]

Happened to me recently.
Several years ago I signed up for the PayPal Credit (Debit?) Card to take advantage of the $50 off the first purchase. (It was actually GE credit co. or some such)
Haven't used it since, noticed a few weeks ago that they had closed the account.
(Never received an actual "card", just got bugged every time I paid for something wanting me to use that "card".

 

[sze5003]

Yeah it's odd I rarely shop at macys but they have some interesting deals now and then. As for best buy, I only get stuff from there when I need it soon or if its not available anywhere else in the area. Sometimes it's easier to get something electronic and if you have issues just take it in for an exchange.