Can CC be closed without notice?

DCFC79

MINCTbw wrote: »

My credit rating is poor due to debt levels but my payment history is impeccable.

Means nothing, what matters is your credit history.

phillw

MINCTbw wrote: »

Cheers - sounds like it can happen but usually not. I'll pay bits off and see if they edge my limit down. If not, I'll pay more off.

Whether something usually happens is irrelevant, if something can happen then it can happen to you. It's no comfort finding out "it's really unusual for them to do that".

How you structure your debt and emergency cash should be down to your own risk profile. If the debt is at 0% then you don't need to worry, if it's sitting around 20% then you need to make hard choices.

Alexd52

MINCTbw wrote: »

Cheers - sounds like it can happen but usually not. I'll pay bits off and see if they edge my limit down. If not, I'll pay more off.

Thanks, all

Whilst they could close it, it is unlikely. The most likely scenario for a closure is probably due to dormancy i.e. the card hasn't been used for some time. To counteract this, you can spend a small amount periodically and pay off in full when the statement is generated.

Terry_Towelling

Can't see why they'd close your account. You've been carrying a balance and being repaying dutifully and giving them a good source of profit, so it would make no sense for them to do so. If you'd been managing the accounts badly (missed payments etc) or in considerable debt for a long time without much reduction in the level, you might have an issue.

If you want to save on interest, you could pay off a lot of the debt but not completely clear it; that should keep your account open and the only risk might then be a drop in credit limit. That said, if they were going to drop your limit, they'd have probably been doing it in stages already.

On a side issue, your response to Ben8282 was out of order. He acknowledged the validity of your question in a way that didn't seem remotely argumentative, and seemingly just wanted to understand the motivation for your thinking along those lines.

born_again

The only reason they would do that is if you had a agreement with them due to payment/debt issues. As such they will have agreed a payment schedule and waived interest.