Comments on Single Guy Money: Credit Card Issuers Closing Unused Accounts

I wish HSBC/Best buy had just closed my account in...

2009-06-25T21:56:45.032-04:00

I wish HSBC/Best buy had just closed my account instead of lowering my limit to $304. I havn't used it because I no longer live near one. I guess I need to close it.

I do not have any particular plans for this weeken...

2009-06-25T17:38:06.332-04:00

I do not have any particular plans for this weekend except the usual one. Friday/chill out with my kids-
Saturday/church –
Sunday/study for my finals.

Yep, Citi reduced my limit from about $10k to $100...

2009-06-23T22:21:26.593-04:00

Yep, Citi reduced my limit from about $10k to $100 - yes, one hundred dollars. I hadn't used the card in years and had no plans to ever use it again, so I just called them up and closed it.

Walmart also closed my store card. This was kinda irritating because it was one of my oldest revolving accounts. But I hadn't used it in over 5 years so I couldn't really complain. I

Bah ... with their outrageous interest rates, they...

2009-06-23T14:23:43.492-04:00

Bah ... with their outrageous interest rates, they should be making profits out of their ying yangs. But, their bad business practices and bad investments are sinking these guys ... not the credit card holder. Now they are scrambling to try to undo their bad practices and dodge the government's regulations ... these yahoos get very little sympathy from me. As for me, I am going cash and carry

That is weird and actually better than in my count...

2009-06-23T02:49:32.431-04:00

That is weird and actually better than in my country Malaysia where the credit card co. still make money on dormant account by charging exorbitant fees by charging annual fees and what not...

I haven't had any accounts closed, but I have ...

2009-06-23T02:44:29.632-04:00

I haven't had any accounts closed, but I have recently been declined by Discover for one of their rewards cards. The reason was that my mortgage is too new. The exact wording was "Ratio of balance to high credit for all open mortgage trades too high."

I had no idea it even mattered, but apparently, it does now.

Thanks for the tips by which we can minimize the r...

2009-06-23T02:35:01.681-04:00

Thanks for the tips by which we can minimize the risk of closing our account.

Credit card companies are indeed closing down inac...

2009-06-22T09:07:50.467-04:00

Credit card companies are indeed closing down inactive or dormant accounts in some countries. In India, majority of the card companies are not yet closing down accounts as yet, though they are scaling down the credit limits of irregular customers.But with rising NPAs, they might do that pretty soon.