Did it ever happen to you that the credit card you had for the longest time is closed off by the issuing company without even letting you know or sending a notification? Well, it happened to me, I have had Amex for 6 years now and infact it’s the first ever CC I got when I first came to US 6 years ago. I have always paid my dues on time and never over charged it; however, I recently paid off all the balance remaining on this CC about 8 months ago and haven’t charged anything on it since. I went to the website recently to see if I have any outstanding balances since I also have a Corporate Card, to my dismay I saw a message on my account website stating that my account has been closed due to inactivity. I am not sure why they would do that, at first thought I assumed that it’s because of the recession. Companies could be streamlining all their accounts and businesses. Amex has been different all the while; they are very stringent on their lending policies, I have had an experience 4 years ago where I was running close to my credit limit and once I paid off the balance they cut my credit limit too. I understand that but cannot comprehend why they would choose to close an account that is in good standing for the past several years. My biggest concern is not loosing the CC but the credit history attached to it, I am aware that credit history accounts for 15% of the FICO score, and its just not right to close an account without notifying the customer, that’s just not good customer service. I will be calling the company today to enquire about the reason that had led to the closing of my account.
Has this happened to you before, if so what did you do, any advice?