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What is going on with Mastercard???? I have excellent credit, never a late payment, and was just a good customer. They recently closed 2 of my accounts for no reason and with NO warning!!!! I called and they could not give me a reason!!! Im SOOOO mad, and embarrased because I tried to use one at Petsmart today and was declined. Thats how I found out. Then I tried my other mastercard and that one was declined too. :thumbdown No warning whatsoever. This is bad business! In an internet search, I found lots of posts online about this happening to other people. So if you have a mastercard, keep an eye on it. Mine had been closed for 30 days and I didn't even know. |
Wow, now that's bad customer service to not let you know. I don't have a Mastercard so am wasn't aware of this but I got a letter from Chase informing me they closed my account because I haven't used it for two years. That's fine with me but at least they let me know ahead of time. |
I heard something similar on the Clark Howard radio show today. He was talking about a man that had a $15,000 credit limit (business card) and they dropped his credit limit to $200. I used a card the other day at Tractor Supply then went to a grocery store and it was declined. I didn't think too much of it until I was listening to the radio station. We are in for some scary times. |
What happens if your account gets closed and you still have a balance due? They didn't even contact you to ask you to pay your balances? |
could it be that they dont have the money..... all these banks are merging and things.... even if that is the issue they should STILL inform customers of this ahead of time! Dont know though....sorry this happened to you! |
So far my mastercard is ok, t's with Capital One. |
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I have a m/c that's with citibank without issue thus far. *knock on wood* |
It may have more to do with the frequency with which you use the card than the solvency of the bank. They are trying to consolidate and cut costs wherever they can. This is just a normal business cycle but it hasn't happened in a while so the "Chicken Little" approach to reporting the news has scared the Bejhesus out of everyone. Don't sweat it...if you need the card just open another one in it's place. |
Is it possible they froze your accounts because they believe there was fraudulent activity on them? This happened to my parents, they went to use their mastercard and it was declined. It turned out M/C thought someone had stolen their number and used it in another province. Turns out they were right - the number had been stolen and used to charge thousands of dollars. |
That is really bad business. They should have told you ahead of time, and explained why they did it. |
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