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In recent review of your account, we noticed that it has been a long period of time since you last used your Citi Diamond Preferred Rewards credit card. To help better manage you credit accounts, we have closed your account.Yeah right. Tell the truth…The cost of capital is too high to have open revolving credit to someone who doesn’t use it. So when I pay off my final credit card bill in April, will all of my credit card companies follow suit and cancel my credit cards? All I can say is we’ll see because credit card debt is the Devil and I have no plans to accumulate anymore in the future.
Saturday, November 03, 2007
Another Credit Card Cancelled…
Citibank closed my Diamond Preferred Card. The letter said:
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5 comments:
Looks like they just did you a huge favor.
The closing of the cards will affect your credit score negatively. But as soon as you start paying down your cc debt your score will start increasing again.
Do you have any other cards that you haven't used in a long time? They might be next.
Dimples...I do have other credit cards that I don't use or have plans to use. In the end, I think Singleguymoney is right, they did me a favor.
Funny thing is that they are still sending me offers on the darn credit card so I am going to check to make sure they're closed.
Maybe you could charge something small on a few of them every once in a while...and pay them off right away.
My Amex card did the same thing to me without a notice.Strange,Ive never had a credit card cancel me before.Ive never been late .
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