One of my accounts was closed.

iVillage Member
Registered: 11-17-2007
One of my accounts was closed.
11
Mon, 01-12-2009 - 10:14am

Well it is starting with us. I just got an email from a company that we have two accounts with for over 15 years to log on to their sight. Both Accounts had a 12,500 limit on them. This morning the one account has a 5.00 credit limit and had been closed with no notice to me. It had a 0 balance. The other one I still owe on is fine for how long I have no idea. In fact because of snowflaking the payment this month went down by 5.00.


So it starting with us too.

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iVillage Member
Registered: 12-30-2008
Mon, 01-12-2009 - 11:56am

I got a letter in the beginning of December that one of my accounts was closing as of the end of December and should cease using it. I was upset about it figuring it would screw up my FICO, yet I'm a little relieved since it had a high interest.

Melissa







iVillage Member
Registered: 03-17-2003
Mon, 01-12-2009 - 12:11pm
An account with a Five Dollar limit?
iVillage Member
Registered: 11-17-2007
Mon, 01-12-2009 - 3:05pm

If you think about it that is kind of a good thing we still have the account kind of open so we keep the 15 year history but then again the company fixed it so it is worthless.


Good for them and not so bad for us NOW since my debt to limit ratio is around 30%


Mary Ann


But it is funny if you think about it. I am not going to call them still got the other account open and it has 12,500 limit.


iVillage Member
Registered: 04-28-2007
Mon, 01-12-2009 - 3:50pm
im confused, why did it close?

 


laurenaugust.gif picture by wowen<

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Mon, 01-12-2009 - 3:56pm

Many banks are closing accounts simply because they can.

All my best,
Danni

iVillage Member
Registered: 04-28-2007
Mon, 01-12-2009 - 4:23pm
ohh ok. yeah im really worried that our credit union is going to do that to our second checking acct soon. we dont use the account and we maxed out the credit line when SO was on workers comp. were trying to pay it off but they called us a couple of times about it and we missed the calls and couldnt get back in touch w them. gosh im so ready for this tax return

 


laurenaugust.gif picture by wowen<

iVillage Member
Registered: 11-17-2007
Mon, 01-12-2009 - 4:43pm

Really they didn't close the account they just lowered the credit limit (there right)from 12.500 down

iVillage Member
Registered: 03-17-2003
Mon, 01-12-2009 - 7:28pm
I'm sorry but I find an account with a $5 (Five Dollar) credit limit to be obscene.
iVillage Member
Registered: 07-10-2003
Mon, 01-12-2009 - 7:41pm
I sort of wonder if there might have been a typo there.
iVillage Member
Registered: 01-23-2007
Tue, 01-13-2009 - 6:29am

Maryann:

We also just got a notice that one of our credit cards would be closed. We hadn't used it in so long, I had to search around to find out which account they were talking about. It wasn't really a CC at all, but a line of credit. I was happy they closed it.

As for the $5.00 limit, my Chase card did that too. I had two Chase accounts last summer and paid off one of them, asking Chase to close it. They kept a strange credit limit on it for a long time, like $12.00. I asked them about it and they said, "That's what we do." I ignored it, knowing I'd never use it. Since the New Year, the account is gone when I check online so I guess they finally honored my request.

We still have plenty of open accounts so I'm not worried. I'm more worried about paying this off and putting money into savings. I've been reading so much about our worthless money that I'm not getting a little neurotic about not trusting banks.

Have a great day,
Dee






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