"Back of the Wallet Credit Cards" cancelled by Mega Bank

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KayakFunInTheFun
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Joined: Sun Feb 10, 2013 2:14 pm
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"Back of the Wallet Credit Cards" cancelled by Mega Bank

Postby KayakFunInTheFun » Sat Mar 16, 2013 7:42 pm

Guys,

Has anyone had a credit card which they no longer use (or only use 1 time per year to keep it in your credit mix) cancelled?

I recently had a credit card which I did not use in over 4 years closed by the mega 'America bank' :D Not sure yet how it will impact my 770 credit score, but Im looking to see if this is happened to others.

FYI, I have about 4 credit cards which I have applied for over the past 8 years which I do not use but 1-2 twice a year, I just for got about this one...

Tks!

KayakFunInTheFun
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Re: "Back of the Wallet Credit Cards" cancelled by Mega Bank

Postby KayakFunInTheFun » Fri Mar 22, 2013 3:21 am

bump...................................

Justus
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Re: "Back of the Wallet Credit Cards" cancelled by Mega Bank

Postby Justus » Fri Mar 22, 2013 3:39 am

What response are you looking for?

TCstr8
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Re: "Back of the Wallet Credit Cards" cancelled by Mega Bank

Postby TCstr8 » Sun Mar 24, 2013 9:58 am

Why would the bank that backs that credit want a line of credit sitting out there that isn't being used. They are making ZERO money on it, because you aren't paying interest, and I imagine there was no annual fee.

Happens all the time.
T.C. Strait
Ohio Loan Officer / Manager @ Mortgage Broker
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http://www.ohiomortgagesolutions.com
http://www.ohiofha.com

Ranger
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Re: "Back of the Wallet Credit Cards" cancelled by Mega Bank

Postby Ranger » Sun Mar 24, 2013 10:02 am

Yes, it happens so often the Clark Howard has a standing recommendation to use each credit card at least twice a year to minimize the chance of them them being canceled.


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