Re: I prepaid my amex card and now its cancelled?

Posted by mk_378 (164.106.129.132) on June 11, 2004 at 20:56:43:

In Reply to: I prepaid my amex card and now its cancelled? posted by tony on June 11, 2004 at 10:01:42:

Almost all credit cards reserve the right to do such a review, without a reason. They may also be required to do it by the new Patriot "If you're not with us, you're with the terrorists" Act. If you don't have a problem with it, go ahead and give them what they want. If you don't want to, beat them to the punch and tell them to close the account and give back your $20K, and make sure it reports "Account closed by consumer." You do not want to have "Closed by credit grantor" on your credit report. That is the only negative thing they can put there, since you've been paying on time. But if you don't have many other accounts with a long history, closing the account either way will lower your score.

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