Comments on: Why do credit card companies close your account after you pay off your balance? http://merchantagents.com/high-risk-merchant/why-do-credit-card-companies-close-your-account-after-you-pay-off-your-balance Thu, 18 Nov 2010 21:02:59 -0500 http://wordpress.org/?v=2.8.2 hourly 1 By: bdancer222 http://merchantagents.com/high-risk-merchant/why-do-credit-card-companies-close-your-account-after-you-pay-off-your-balance/comment-page-1#comment-1268 bdancer222 Fri, 02 Oct 2009 16:09:59 +0000 http://merchantagents.com/high-risk-merchant/why-do-credit-card-companies-close-your-account-after-you-pay-off-your-balance#comment-1268 If you used the account on a regular basis and paid it in full every month, I'm not sure why they would close your account. Amex did close a lot of accounts but most had some kind of red flag that indicated higher risk, like carrying balances for a long time and only making minimum payment. Amex needed to get a lot of accounts off their books. Maybe your account fell into a category that they were doing away with.<br><b>References : </b><br>BD If you used the account on a regular basis and paid it in full every month, I’m not sure why they would close your account. Amex did close a lot of accounts but most had some kind of red flag that indicated higher risk, like carrying balances for a long time and only making minimum payment.

Amex needed to get a lot of accounts off their books. Maybe your account fell into a category that they were doing away with.
References :
BD

]]> By: knitting bear http://merchantagents.com/high-risk-merchant/why-do-credit-card-companies-close-your-account-after-you-pay-off-your-balance/comment-page-1#comment-1267 knitting bear Fri, 02 Oct 2009 15:52:59 +0000 http://merchantagents.com/high-risk-merchant/why-do-credit-card-companies-close-your-account-after-you-pay-off-your-balance#comment-1267 It isn't that you were high risk, you were a non-money making asset. If you don't carry a balance, they don't make money off you. Interest, late fees, over limit fees, payment fees, etc. are how they make their living. If you pay off your balance, in full, every month, how are you helping make them a profit?<br><b>References : </b><br>Former credit card collector It isn’t that you were high risk, you were a non-money making asset. If you don’t carry a balance, they don’t make money off you. Interest, late fees, over limit fees, payment fees, etc. are how they make their living. If you pay off your balance, in full, every month, how are you helping make them a profit?
References :
Former credit card collector

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