Comments on: Credit card canceled without warning?

By: Pissed

Pissed — Thu, 18 Mar 2010 12:37:00 +0000

Discover Card just canceled my card of ten years for no reason and no notification. And when I called they told me lie after lie and were rude to boot. And after they lied to me 3 different times with three different lies, they asked me if I wanted to apply for a card. I will never do business with those scumbags again. Business is business but it is not fair that they can reduce my credit rating because of a ten year old card being canceled for no reason. The credit rating system has been rigged by the credit card companies and reflect their profit objectives more then my credit history.

When they send you the card offers in the future just take their postage paid envelopes and mail them back to them with nothing inside.

By: Toni616

Toni616 — Thu, 05 Nov 2009 17:05:22 +0000

Amex just cancelled my card without any notice! Although I agree with some of the other comments about using cash as much as possible. Sometimes it is just not practical. I never missed a payment even though I was had been unemployed for 3 months at one time but never missed a payment and paid more then the minimum. SO my tax dollars are bailing out the banking industry and the way I’m thanked is by having your card cancelled without notice end.

By: Ted

Ted — Tue, 03 Nov 2009 15:07:15 +0000

I wish everyone would cancel their credit cards. F the credit card companies.

By: Jen

Jen — Sat, 24 Oct 2009 16:40:55 +0000

Closing an acct can negatively affect your scores if you have balances on other cards (your debt to limit ratio is changed), or if it was an old card since scores are based partly on your length of credit history. I don’t know if just closing an acct without those factors will have any impact on scores though.

By: Michael

Michael — Fri, 23 Oct 2009 11:04:08 +0000

Please Banks, Cancel all cards! The fear of inability to rent a car or get a plane ticket does not effect the millions in debt at 28% who have never (or rarely) rented a car or taken a flight. Then stores can give store credit again where you can buy the tv or the clothes but not charge $60 at Applebees on the way out of the mall. Stop spending what you don’t have. And file bankruptcy while house prices are down and equity is not exposed.

By: Sean

Sean — Thu, 22 Oct 2009 17:33:42 +0000

I wanted to cancel my Citi Cards anyway…funny how the gas card gets canceled and the normal Citi Mastercard doesn’t. No wonder Citi lost so much money this quarter.

By: Nocreditcard-cashonly

Nocreditcard-cashonly — Wed, 21 Oct 2009 22:46:27 +0000

@banks–if you use your debit card, like a credit card…meaning you sign and not enter your pin..you get the same protection from Visa as if you had an actual credit card. Its when you use your pin that you have the problem. I know..I’ve been there. Just sharing…

By: Nocreditcard-cashonly

Nocreditcard-cashonly — Wed, 21 Oct 2009 22:20:09 +0000

@Dave Ramsey Fan.. ditto! No credit card, completely debt free… rented a car, hotel reservation and airline ticket with a debit card,(Visa Logo):-) I just happend to have the money to pay for it…because I’m not paying off credit cards, mortgages, car notes and loans….. its amazing how much money you have when you’re not giving it away to debtors… Oh by the way, the mortgage is paid off too…don’t need the tax break since I pay less in taxes than what I’d get back in a refund.

By: Lee

Lee — Wed, 21 Oct 2009 19:45:10 +0000

How about this for a reason… lets say your mother is 93 years old and she has her prescriptions by mail set up to charge automatically to your credit card, and suddenly your mother stops receiving her prescriptions, because you define “private enterprise” as the absolute right to cancel a 93 year old housbound person’s credit card company to any card any time for no reason whatsoever despite the fact that they have always paid on time. hummm… “government interferrence” sounds like a pretty good idea?

By: Out a Rebate

Out a Rebate — Wed, 21 Oct 2009 19:44:53 +0000

What the media, and therefore many of you, haven’t picked up on is that Citi closed the cards on the next to last day of the October billing cycle. Another piece of the fine print is that you forfeit any rebates you have coming to you if the card is canceled for any reason. Their deliberate timing of this caused the greatest possible rebate loss to every one of their cardholders.

Our family alone lost over $50 that we had coming to us.

This was definitely our last dealing with Citi.