CB&T Closing Acct...?????? No reason

[CindyLou]

I got a letter in the mail today from CB&T saying they are closing my account effective 30 days from today and effective immediately they are decreasing my limit to 100.00 from 1000.00. This is very strange. This card survived my BK from almost 2 years ago, I have never been late on a payment, in fact it has had a zero balance since July of this year.

My credit score has improved, my utilization has decreased..why would they do this? Right when I'm getting ready to look for a house they are going to close my oldest positive tradeline. And of course they are closed on Sat/Sun so I can't call and ask. I am so angry right now.

I checked my credit report. No new surprises on it. I don't get it. Any ideas????

[SinkingFast]

Could be they performed a routine, periodic review of your acct and pulled your Credit. Possibly the first Credit pull since before you filed BK. Maybe they're only learning about the BK now??!!

Maybe they don't think you're using the acct enough to suit them. They're not making enough money off of you.

Hopefully, they'll have a reasonable explanation when you talk with them. Or maybe you can get them to reinstate your acct as it was.

Good Luck with this, Cindy!

I know you've worked very hard to re-establish yourself and get prepared to buy a home.

[CindyLou]

I had told them about the BK before I filed. They said it was not a problem and would not close the account as a result of that. But who knows....2 years seems like a long time to not have checked my credit.....maybe the 5 months of no use of the account was a trigger to check it.... I guess I'll have to wait until monday to see.

[CindyLou]

Well, you were right. I was not using it enough to suit their fancy. They said that after 3 months of non-use on all account they are closing them beginning Nov. 2007. Apparently CB&T has hired a company called SST to manage a hunk of their accounts and SST's job is to skim off the non money making accounts. It seems that SST has a no nonsense approach to getting rid of non money making csutomers! This really ticks me off. In the process they have lost a potential money MAKING customer! Makes not sense, but CB&T said that because of their contract with SST that all decisions made by SST are final.

This is my oldest credit account. Hopefully it won't affect my score too bad. They said it is being closed at a a "V9" which is a voluntary closure which does not go against me. I just can't believe that they consider 3 months a dormant account. That's crazy.

[magyar123]

Who is SST? Makes me wonder if HSBC and WAMU were hired by them. My HSBC MC account ($4500 Limit), and my WAMU Visa ($2500 limit) are down to 0/zero, but plan on using them for a trip to Europe in April, air fare, car rental, hotels, etc. Guess until then I'll use them for a tank of gas here, there, meals, etc.