I've been a customer of this bank since '04. Today I found out that upon card renewal, they decided not to renew my account because I did not pay the balance off quickly enough.??? (I've always paid more than the minimum. Most recently, I sent in a $900 payment this past November). I've never been over my limit, and never late. My limit was $1600 and with my larger payments, it's gotten to be lower than 35% of the credit limit.
Last month when I called to report the missing card, I was told the account was closed for security purposes and that they would send me a new card to my new address (They still had an old one). When I still never received it, this is the reason I get.
Can credit card companies do this now? I thought it was in their best interest to keep these accounts open and PRAY people make the minimums, because they make money off the interest.??!!
So now, I get no replacement card, and a closed account shows up on my credit report, which affected it negatively. No surprise there. I bought a house this past August, and my score actually went up. I don't understand how the reason they gave me could be acceptable to the agencies who oversee them.
If you're reading this and thinking about getting a card through this bank: DON'T. Go to Wikipedia and look up this company's information. I'll just say I was surprised at what I read. To add insult to injury, every time I've called there, the customer service has been horrific, at best.
This makes me nervous to make a payment that's too low or too high. How much should we pay? I'm writing all three credit bureaus and letting them know what was done, though I know it will probably not help matters much.
If you speak to "Moses" there, tell him I said hello, will you? I've just pulled all my hair out.
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