Credit card closed

[happybat4]

So yesterday I used my credit card, only to have it denied. I call the credit company only to find out my account is closed. They told me I called and cancelled it, however they have no record of the date. I told them I wanted the account reopened as I never closed the account. However they said I have to reapply. This means on my credit report, it will show that I closed the account, then reopened. So now my longest credit account has been deleted, from no fault of my own. I told them not to bother, I am leaving the account closed. Have you guys ever run into this problem?

[nate]

Same thing happened to me when I was 19 and jobless.  All because I forgot to pay them for a couple months.  Bastards.

 

In reality if you haven't used it for a long time some companies will close cards due to inactivity.  Or maybe you have a split personality and he called in and closed it.  No matter what they should have a record of how it was closed.  Pull your credit report and make sure your credit hasn't been hijacked.

[happybat4]

I did check my credit report and everything is fine. I do use the card several times a month a for a few hundred dollars. I pay it off at the end of the month as well. Maybe they closed it because I never let interest accrue.

[mancini79]

Was it Chase?

[AngelsLongBall]

I did check my credit report and everything is fine. I do use the card several times a month a for a few hundred dollars. I pay it off at the end of the month as well. Maybe they closed it because I never let interest accrue.

They won't close your account because of not accruing interest.  They could close it because of inactivity, however (even though that isn't your situation)

[happybat4]

It was a best buy mastercard. It is HSBC bank.

[Vegas Halo Fan]

I can't imagine why they would close the account, if there was no problem with inactivity or late payments.

[happybat4]

I cant imagine why either. A little frustrating, but o well. I hope it doesnt hurt my credit score to bad.

[gotbeer]

It was a best buy mastercard. It is HSBC bank.

 

 

Best Buy's credit just got bought out by Chase.  I don't know if anything has been done yet between the two.  But my guess is, something got fraked because of this.  

 

Edit:

 

Incorrectly stated above.  Best Buy was on HSBC, then went to Capital One, and a few days ago, was sold to Citigroup.  

 

Capital One sells Best Buy credit card portfolio to Citigroup

[nate]

I think all of HSBC was sold to Capital One.

[gotbeer]

I think all of HSBC was sold to Capital One.

 

 

Come to think of it.  Yeah, I think you are right.  At least the credit card portion of HSBC was.  

[Redondo]

Thats terrible. Any thing that happens to affect your credit that you didn't do is not right and there should be a way to fix it.

 

I pay mine off every month and have for a long time. Never have to pay interest. One of the companies raised my interest rate and when I called they told me it was because they don't make any money off me. Weird, but true.

[gotbeer]

Thats terrible. Any thing that happens to affect your credit that you didn't do is not right and there should be a way to fix it.

 

I pay mine off every month and have for a long time. Never have to pay interest. One of the companies raised my interest rate and when I called they told me it was because they don't make any money off me. Weird, but true.

 

Which is stupid.  Because Credit Card companies make 2%+ off every transaction you make.  2%, even if you pay it off every month, is 24% annually they make in their pocket.    

[2112]

1.  

[Tank]

1. reapply for a new credit card

2. rack up a huge insane amount of purchases

3. declare bankruptcy

 

everybody wins.

[Vegas Halo Fan]

Crazy that they would close out an account in good standing with no request by the card holder.

[2002_halos_II]

No. In your case I would have asked for the fraud department. I had a card that was under fraud alert (there was a bogus charge on it from some marketing co I'd never heard of) so I had to contact the fraud department and dispute the charge.

[Adam]

They probably added some disclosures related to card members and spitting

[Adam]

HSBC sold their credit card unit to Capital One.  My bet is, something went screwy in the transition and they don't want to fess up to it.

 

Where have I read that before?

[gotbeer]

Where have I read that before?

 

LOL.  You are quick.  I responded, and as I scrolled down further, realized it was an old post I already responded to.  haha

[Adam]

Your knowledge of major credit firm acquisitions has been confirmed

[Blarg]

His wife probably cancelled it because for her last birthday all she got were some crappy seat covers from Pep Boys.

[stevestevens]

What's up Adam, we resurrecting Big Bump Friday?

[Adam]

Well, I figured we needed 12-18 months of activity on this board, but the wait has been killing me.

[Vernster52]

Quit drunk dialing.