Chase credit card canceled

[cypher1]

Anyone have a company cancel their credit card without notice? I just noticed online my oldest CC through Chase was canceled end of May, due to lack of activity. They claimed they mailed a notice at end of April warning, but I never received in my mail. It's not the end of the world, but I'm more annoyed since that account was almost 18yrs old, and recognize they have a right to do so, and are unable to re-open. Now I'm concerned hows it's going to impact my credit score for lowering credit limit, and age of accounts open.

[disneysteve]

I have had a card closed for inactivity. It was a card I truly never used so I didn’t care.

[cypher1]

Yep, this was my backup card, which the last transaction used was a year ago. So I'm not too shocked.

[disneysteve]

Yep, this was my backup card, which the last transaction used was a year ago. So I'm not too shocked.

I’m surprised they did it after only a year, especially considering the COVID situation. A lot of people haven’t left the house since early March.

[kork13]

I’m surprised they did it after only a year, especially considering the COVID situation. A lot of people haven’t left the house since early March.

Agreed, just 1 year inactive is unusual. My oldest CC hasn't seen use in easily 5+ years & I keep expecting it to get shut off. But realistically, losing one card for inactivity isn't going to crush your credit score at all. If you're concerned about the credit limit, you can always request an increase on your current card(s). Keep in mind that the card stays on your credit report for 7 years (I think), so it'll still help you for a good while. Unless all of your other cards (or other loans) are just a few years old, I don't think you have anything significant to worry about.

[Jluke]

I think Chase was also reducing credit limits on their cards too.

mine might have been reduced 2k. I just can’t remember where I was at for a credit limit on that card - our primary card we use for everything too

So this move doesn’t surprise me

[cypher1]

I think Chase was also reducing credit limits on their cards too.

mine might have been reduced 2k. I just can’t remember where I was at for a credit limit on that card - our primary card we use for everything too

So this move doesn’t surprise me

I knew over the years they were lowering the limit, which didn't bother me. I just wish they would have sent more than one notification via mail, or at least an email or flag notification when i log into their site to catch it.

[Petunia 100]

Chase has sent me letters before, use your card before Date X or we will close it. If you have any other cards you want to keep open sitting around unused, use them at the gas station or something.

[kork13]

Agreed, just 1 year inactive is unusual. My oldest CC hasn't seen use in easily 5+ years & I keep expecting it to get shut off.

Welp.... I opened up my email this afternoon to a love note from Capital One:

"You haven't used your card in 2 years. As a result, the account will be closed due to inactivity on February 1, 2021. Until then, the account has been restricted and can’t be used for transactions or unrestricted prior to closure."


@cypher1 Take heart, you're not alone. This is actually my second-oldest card though, so the joke's on them!

[disneysteve]

Welp.... I opened up my email this afternoon to a love note from Capital One:

"You haven't used your card in 2 years. As a result, the account will be closed due to inactivity on February 1, 2021. Until then, the account has been restricted and can’t be used for transactions or unrestricted prior to closure."

Are you saying you can't use it between now and the closure date? That makes no sense. Why bother giving you the warning if not as an opportunity to get the card active again?

[kork13]

Are you saying you can't use it between now and the closure date? That makes no sense. Why bother giving you the warning if not as an opportunity to get the card active again?

That's what it sounds like (and thus my under-clad spokesman)

[disneysteve]

That's what it sounds like (and thus my under-clad spokesman)

So they're giving you 8 months notice that your card is now worthless and can't be used. I wonder what purpose that serves.

I'd be calling and getting that corrected.

[kork13]

So they're giving you 8 months notice that your card is now worthless and can't be used. I wonder what purpose that serves.

I'd be calling and getting that corrected.

I'm probably just going to call and tell them to shut it down immediately.

[cypher1]

Welp.... I opened up my email this afternoon to a love note from Capital One:

"You haven't used your card in 2 years. As a result, the account will be closed due to inactivity on February 1, 2021. Until then, the account has been restricted and can’t be used for transactions or unrestricted prior to closure."


@cypher1 Take heart, you're not alone. This is actually my second-oldest card though, so the joke's on them!

Haha welcome to the club! Although as others pointed out, not sure what is the purpose of giving you a heads up that you can't even use the card for the next 8 months or re-activate it, since there is no law saying they have to notify you for before closing due to inactivity. Might as well reply with a "Thanks for nothing!"

[~bs]

think i have over 10 cards, so the loss of 1 would be no biggie...

you guys know that inactive cards get canceled in an economic recession. If you dont want the card canceled, buy a cup of coffee now and then.