|
 |
Home >> Lending >> Credit Cards
Closed Credit Card Account Opens Pandora's Box
My credit card company closed my account, with a balance on it, because "I requested not to be called". Actually I requested they stop calling my cell phone! They refuse to re-open it. I thought this was strange, so I emailed them to clarify why they closed my account, and requested information on any default or anything that would have caused such a closure and refusal to work with me on re-opening the account.
They said, in writing, that they closed my account solely because I requested they stop calling. I have never heard of such a thing, nor have I been able to find a similar situation online. I am so upset. A bank-closed account is a heavy thing to have on a credit report. I was planning on moving and buying a new house soon, too. I have been a customer since 2001. I also have my mortgage and checking with this bank, that I am freaked out about now. They are in the top five large banks. Can they do this? What can I do to save my credit? Will I still receive finance charges on this account that I have to pay? Is there anything I can do? Is my mortgage safe, or can they cancel that too or do something worse?
|
|
 If the bank felt that they would have difficulty contacting you, they may well allow for such a condition in their agreement with you. You'll have to review your documents from them. The fact that you have a telephone number to be contacted at can be a factor in the approval of credit.
Your lenders may want to contact you in the event there is a problem with your account. This could be not only a past due or lost payment, but also an attempt to use your card that they suspect could be a fraudulent transaction. Immediate contact by phone can save the bank and you money in these cases.
If you feel the only reason they did this was because of your cell, offer them a reliable alternative number. If the person you speak with isn't helpful, ask for his supervisor, and his supervisor if needed. Lastly you could contact the regulatory agency's ombudsman to place a complaint. The lender can tell you who to contact.
If you don't get the answer you want, you can place a comment on your credit report explaining that the account was closed because... and state your understanding. You'll do this with the credit reporting agencies.
Published on BankingQuestions.com 9/24/08
|
| |
|
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
