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Why are my credit cards being closed?
I'm freaking out because I just discovered that 3 credit cards were closed today.
I've never missed a payment or have been late and I'm always on top of everything and there was no suspcious recent transactions.
I used the card yesterday for Dunkin Donuts..$3..and today I went and it was declined. I tried CVS it was declined. I used a different Barclay card..it was declined too so I went online and say they closed my accounts and I tried to call but the said office hours were over until Monday for the department I needed to speak to.
Now I tried my People's United Bank card and it's been declined.
I'm just really concerned that it's two different companies that have closed accounts today, the only thing they have in common is they are all Mastercards.
Is there anyway for them to be reopened?
My credit score was 800 last I checked a few months ago
6 Answers
- Anonymous7 years ago
Sounds like it could be ID theft or a huge error with mastercard systems. If it was an error with mastercard it would be with more people then just you & I used mine today for lunch.
Dont stress too much about them being closed until monday if they are credit cards. If they are debit cards then go online and transfer your money to your savings account NOW and go in the bank tomorrow morning! or any account that is not linked to those cards. You will get all your money back if it was fraud, however, I like to be on the safe side and keep cash instead of waiting to get it back.
Source(s): I'm a Bank manager - bdancer222Lv 77 years ago
You will have to call the cards to find out why. You might try the 800 on the back of the card. It should be answered 24/7 but they may not be able to give you answer. Still worth a try.
You may just have to wait till Monday.
- CatDadLv 77 years ago
There is usually one reason why this might be happening (other than ID theft), and that is that you have gone more than 90 days past due on one card. Credit card companies monitor your credit reports and if they see that you are going way past due on one card, they will close their card even if you are current on it.
- If this is not the case, then it could be ID theft: someone may have opened up accounts under your ID and these accounts are now going into default...which can cause your other credit card companies to close your accounts even though you are not defaulting with them.
- Either way, pulling your credit report is the best way to see if something is going on: Credit reports are free once a year at: http://www.annualcreditreport.com/
Look for obvious signs like accounts that are not yours.
- DON WLv 77 years ago
It sounds like fraud was reported on your accounts and they are being closed as a precaution. Typically, though, the company will try to call you first--do they have your current phone number?
One thing you can do between now and Monday is to check your three credit reports and see if there are any recent "alerts". You can do so for free here:
- 7 years ago
I think you need to call the number located on the back of the card and ask the company why you have been closed. Only they can give you a true answer. Good luck.
- TeaLv 57 years ago
Fraud is suspected and they are suspended as a precaution. Ring the number on the back of the card and discuss.
