julestaylor Posted July 26, 2006 Report Share Posted July 26, 2006 Do credit card companies "yank" or terminate cards of good customers (perfect payments etc) if they see that the debtor is in financial trouble on other matters (foreclosures etc)? If anyone has had that experience could they share?Thanks! Link to comment Share on other sites More sharing options...
BayStateMom Posted July 27, 2006 Report Share Posted July 27, 2006 Years ago it happened to me with Sears (and I'm talking more than 10 years ago). I was having credit problems with my mortgage (going through a divorce and my ex was ordered to pay which he did not). I had had a Sears card since I was about 18 - only my name was on the account - and I always paid it on time. All of a sudden, I get a letter from them that during a "routine check" of credit worthiness, I no longer was deemed worthy to them, so they closed my account. I called them and tried to reason with them, but they wouldn't budge. At that point, I said screw them and put them to the bottom of my bill pile. That really was the only company that I had a problem with in doing something like that. Link to comment Share on other sites More sharing options...
julestaylor Posted July 28, 2006 Author Report Share Posted July 28, 2006 thanks, I was afraid of that. Has this happened to anyone else? Link to comment Share on other sites More sharing options...
blueranger Posted July 28, 2006 Report Share Posted July 28, 2006 my daughter the college student... has about 670 credit scoreage 20.... chase was doing one of those random credit check andthey lowered her limit..... Link to comment Share on other sites More sharing options...
divemedic Posted July 28, 2006 Report Share Posted July 28, 2006 BofA cancelled my card when verizon wrongly posted a collection to my CR. They gave me another one after I sued Verizon and got the delete. Link to comment Share on other sites More sharing options...
txsquirrel Posted July 28, 2006 Report Share Posted July 28, 2006 I'm glad this topic was brought up. I have two cards, 1 discover and 1 visa I've had at least 15 years and are both up to date. I am gradually paying them down, but the concern is what will happen if I pay them off. I would hate to think that they would cancel them after payment. There are few things great about my credit and loosing this positive would not be good. Link to comment Share on other sites More sharing options...
Debtor1 Posted July 31, 2006 Report Share Posted July 31, 2006 I went 5-6 months not paying on 4 cards. One CO'ed then settled. The rest are being paid on. During tthis time, Foleys and Capital One cancled their cards among a couple of others. Dilliards was doing AR pulls every week, but left the acct open Link to comment Share on other sites More sharing options...
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