Can credit card companies close your accounts without warning? How does it affect your credit score?
Posted January 11th, 2010 by admin 6 Comments »
Sara asked:
I received a letter in the mail from Juniper (iTunes Rewards) stating that they have closed my credit card account due to inactivity. I opened the account about 18 months ago and have never actually used it. Can they close my account just like that without any warning? How should I handle the situation? (Is there anything I can even do?)
I received a letter in the mail from Juniper (iTunes Rewards) stating that they have closed my credit card account due to inactivity. I opened the account about 18 months ago and have never actually used it. Can they close my account just like that without any warning? How should I handle the situation? (Is there anything I can even do?)
Also, I know that closing credit card accounts lowers your credit score. Does anyone know how much mine will be affected?