closed by creditor because of economics

iVillage Member
Registered: 06-20-2008
closed by creditor because of economics
2
Wed, 10-08-2008 - 10:18pm

My dh got a letter the other day, that his credit card was being closed because of

[url=http://www.TickerFactory.com/debt/w9REIyy/] [img]http://tickers.TickerFactory.com/ezt/t/w9REIyy/debt.png[/img] [/url]
iVillage Member
Registered: 11-17-2007
Wed, 10-08-2008 - 10:25pm

Most likely not if it was never used. Was it activated if not that could be why it was closed because there is a time limit on that.


Mary Ann

iVillage Member
Registered: 07-02-2008
Fri, 10-10-2008 - 10:18am

I heard something on Oprah and Dr. Phil that creditors were cutting credit lines. Your DH might not have used the card but he has POTENTIAL to use it and in these economic times banks / creditors are worried you will charge up and not pay. They are doing this more and more lately. Cutting credit limits down and/or cancelling the cards FOR you because you aren't using them.


I doubt its anything "personal" or anything you could have avoided. This is happening b/c banks are scared in our financial crisis right now in this country.