Has Your Credit Card(s) CL Been Reduced, Closed, or Frozen? If So, Please Explain!

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Originally Posted by hjm331

You're supposed to use a sockdrawered card every 2-3 months or else a lender will close the account for inactivity. I'm surprised WaMu waited that long. Usually, lenders will close inactive accounts in a heartbeat.

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I do, I just didn't for that card. I was emotionally attached to that card because it was my first "real" (i.e. $5,000 limit) Platinum card that I got when I was 22. So it was hard to close.

The lenders are really cracking down on inactive cards now though, any reason they can to close out an account they are doing it.

Yes sir.

Ok, you guys I am officially done with credit. I received a letter from Citibank today informing me that my Citi Flex Line of Credit was being decreased from 9500 to 8400. I was already contemplating closing this account along with the home depot mastercard. Them doing this to me, made it final. Between other creditors saying I had too much credit and this, I figured I'd killed two birds with one stone. I opened both of them right under a year ago. As far as my score goes, it will recover eventually, I don't plan on opening any new accounts for the next two years. By the way the reason stated for the decrease was too many recent inquiries, whatever, I think I may have six, including the two from them for those two accounts. I'm not upset, just done with this whole credit fiasco for awhile.

I would just keep them open and see what happens after the recession is over.

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Originally Posted by charonh

Ok, you guys I am officially done with credit. I received a letter from Citibank today informing me that my Citi Flex Line of Credit was being decreased from 9500 to 8400. I was already contemplating closing this account along with the home depot mastercard. Them doing this to me, made it final. Between other creditors saying I had too much credit and this, I figured I'd killed two birds with one stone. I opened both of them right under a year ago. As far as my score goes, it will recover eventually, I don't plan on opening any new accounts for the next two years. By the way the reason stated for the decrease was too many recent inquiries, whatever, I think I may have six, including the two from them for those two accounts. I'm not upset, just done with this whole credit fiasco for awhile.

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hey, i understand what you going throught because of my recent experience with gemb.I decided to close all three cards with them with their low limits and deal with the temporary loss of points and moved on to open two capital one cards(I'm glad i did) with no annual fees.

Good Lord Charonh! But you know what, I've seen them drop worse than yours, so I think I would hold on with them. These creditors are killing me with how they do the good consumers, but yet they are out taking chances on those with reports less fortunate as yours.

As for GEMB, yeah they are really trippin. I have heard so many stories on them until it is pathetic.

My WAMU Visa was closed with no notice just this month by the bank due to inactivity. I hadn't used it since I paid it off in Jan. 2007. Nice of them to tell me! I didn't find out until I was making a purchase and got declined!! I was mortified:scared:

No love from my GEMB JCPenney account. I called this morning and went through the automated system for a CLI and they it was denied, so I backed out, went to the main menu and pushed 0 for an operator. I got a very nice lady on the phone who told me that she could see the CLI was denied, but she didn't have access to see the reason why and I would receive a letter in the mail in 7-10 business days. I will let every1 know as soon as I receive that letter what it was all about.

I am still pretty upset with them, I know if they check my CB report they will see that my total utilization is only at 27% percent. And I have already paid my new Cap One (that I got in Nov) off twice.

Will wait to see what the final is on that....

GEMB is actually struggling right now and they are lowering the limits of their current customers. They are not as bad as AMEX, but you should still be happy with what you got.

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Originally Posted by ronsboo

My WAMU Visa was closed with no notice just this month by the bank due to inactivity. I hadn't used it since I paid it off in Jan. 2007. Nice of them to tell me! I didn't find out until I was making a purchase and got declined!! I was mortified:scared:

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That is weak. Now, did your current card expire and they did not send you a new one? If the card was still valid then there is no excuse for that. I thought by law they were required to alert you of adverse (closing the account) action. I had a card that was re-issue declined; meaning my current card expired and since I had not used it they did not send me a new one.

Anyway, I know I am going to hell for this, but I get a sick satisfaction of seeing people's cards being declined :embarrassed: Yes, it has happened to me because my (at the time) credit union was janky and their network was down. But this weekend, oh man, this woman was at the grocery store in front of me and not only was her debit card declined ("we got paid today!") but so was her Chase Southwest Airlines card (yeah, I looked). It isn't so much funny when a card is declined-it is when people become indignant that it pleases me so much. ("your card scanner must not be working!") yet, my Discover scanned effortlessly :cheesing:

That is a perfect idea for a Southwest commercial. The woman's card gets declined with the embarrassing expression on her face and then you hear the narrator say "Wanna get away?" :laugh::laugh::laugh:

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Originally Posted by hjm331

That is a perfect idea for a Southwest commercial. The woman's card gets declined with the embarrassing expression on her face and then you hear the narrator say "Wanna get away?" :laugh::laugh::laugh:

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Screw Sears HJM, you could get a gig writing commercials :laugh:

Actually, I write music. :cheesing:

{cough ...link..cough}http://www.financeglobe.com/SocialNet/clubs/music/

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Originally Posted by Meya

{cough ...link..cough}http://www.financeglobe.com/SocialNet/clubs/music/

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Meya look at you being sly

:laugh::laugh::laugh: Got it from the best. HJM331!

Aww shucks! :innocent:

HOOTERS JUST CLOSE MY ACCOUNT!!!!!!!!!!!!!!!!!!!!!!!!!!!

Its been in good standing.

The reason:
"Too many recently opened accounts."
Ths is just BS. I havent opened an account in so many months.Just a stupid reason to get me off their list. Oh well, another one bites the dust.

I have heard this happening to a lot of people for the same reason. Sorry to hear about that cireone, life goes on.

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Originally Posted by cireone

HOOTERS JUST CLOSE MY ACCOUNT!!!!!!!!!!!!!!!!!!!!!!!!!!!

Its been in good standing.

The reason:
"Too many recently opened accounts."
Ths is just BS. I havent opened an account in so many months.Just a stupid reason to get me off their list. Oh well, another one bites the dust.

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Sorry to hear, this is why I am avoiding credit at all costs. I cannot live with uncertainity, its too stressful. I'd rather know I don't have not have something available to me at all, than to think it is and be depending on it, only to be pimp slapped :scared:. I think not. I will continue to be a loyal FG member, but the heck with credit for me right now.

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Originally Posted by cireone

HOOTERS JUST CLOSE MY ACCOUNT!!!!!!!!!!!!!!!!!!!!!!!!!!!

Its been in good standing.

The reason:
"Too many recently opened accounts."
Ths is just BS. I havent opened an account in so many months.Just a stupid reason to get me off their list. Oh well, another one bites the dust.

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:shocked::shocked::shocked::shocked: Now what is really going on around here? I just took Hooter's to the "Max" nearly a couple of months ago and I applied with Kays, and Citibank recently. now I am about to start biting on my nails. IF they close mines oh well, its only been about 1 year with them anyway. This is a credit disaster story for today.

Creditors currently look like chickens running around with their heads cut off.

They are actually making us, the consumer, look like that:laugh:

True, can't argue with that.

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Originally Posted by Meya

:shocked::shocked::shocked::shocked: Now what is really going on around here? I just took Hooter's to the "Max" nearly a couple of months ago and I applied with Kays, and Citibank recently. now I am about to start biting on my nails. IF they close mines oh well, its only been about 1 year with them anyway. This is a credit disaster story for today.

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This should be a lesson for all of us right now. No new applications until mid next year. Very scary.

I haven't applied for credit since September.

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Originally Posted by hjm331

I haven't applied for credit since September.

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Me too, and I know you hate them, but it was with Amex and it shows on my bureau as opened in 1999 God I love that.

I have been where all of you are now though, I think I was approved for 16 new accounts (one was an auto loan) between 1999 and 2001 :innocent: And I had my share of denials because of the amount of new accounts and inquiries, but I have long since stopped.

I have heard about that where AMEX backdates new accounts. I will never waste another inquiry on an AMEX product because they are very bi-polar. They are cool with you today but your worst enemy the next day.

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Originally Posted by hjm331

I have heard about that where AMEX backdates new accounts. I will never waste another inquiry on an AMEX product because they are very bi-polar. They are cool with you today but your worst enemy the next day.

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Yeah, I have heard the horror stories. So far so good, and I never had a problem with my old Gold Card either.

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Originally Posted by ColoNative

This should be a lesson for all of us right now. No new applications until mid next year. Very scary.

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You have never lied, I am so glad that the luv button fever have left me. Thanks to everyone here! I might have to put my tier one spree on hold until this madness is over with.:worried:

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Originally Posted by ColoNative

This should be a lesson for all of us right now. No new applications until mid next year. Very scary.

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I really only got 1 account open since August. None since then. So for them to make that excuse to close my account is really puzzling. Funny, because I dont know whether to feel angry or not about the whole thing.

What :shocked:

Hooters? Thats like insane... IDK all creditors are freaking out...

We here didnt expect GEMB to do this and now Hooters?

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Originally Posted by cireone

IFunny, because I dont know whether to feel angry or not about the whole thing.

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You don't need a Hooters card when you got cards with BOA and Citi.

True! Also, its not like its love lost because I never heard anyone talking about redeeming points and benefits anyways. Its just a rebuilder card that gave out nice limits once upon a time.

Exactly!

I hope the same doesn't happen with me and my Hooters. That's craziness that they're doing that to their established customers.

On the brighter side, I've only been with Cap One for 2 months (and haven't received any credit steps notice, they started me out with the 300 limit, and I have paid my 2 months in full before the due date. Today, I thought I would be adventerous and call the back door number and see if they could show some love and sure enough, she increased my limit to $600 now.

CapOne is absolutely the BEST! And I am glad to have them back in my wallet.

Congrats! It's always great hear about CLI's! CLI's always make my day. :cheesing:

Way to go on your cli, please add it to this thread
http://www.financeglobe.com/SocialNe...ght=report+cli

:white-flag:

We just got a letter in the mail today (12/13/08) stating that our Aspire Visa was "Terminating its Program" but the account will continue to have an account maintenance fee until the balance is paid off. However this termination will not take affect until 12/24/08 so they are still able to asses an annual fee of $99 to our account before terminating it. Why should we have to pay an annual fee if the program is being terminated.

We were doing so well with rebuilding our credit after a chap 13 bk and now this happens. We were never late on any payments and got credit limit increases every year on the anniversary date and have been with them for 3years. We have other credit cards that we are maintaining but i'm affraid that this may put a negative remark on our credit report.

Has anyone else had this happen?

How long have you guys had the account, its definitely not you'alls fought that they are terminating the program, but sense either way it will show as a closed account, I would call them and close it before they assess the annual fee, why pay for a service that will not be available to you? Just my personal thoughts? I read somewhere that the credit bureaus were aware of issues such as these with certain banks and were considering them accordingly score analyses (when scoring credit).