Can they do this?

[turbosam6]

Got a letter from Sears today saying they were cancelling my credit card due to no recent activity. Last I used it was early 2002, and I keep no balance on it, or any of my other cards. So they cancel it? Thats stupid. I don't use it much, but its nice to have if an appliance craps out unexpectedly.

 

[GN ERGY]

Guess they can. sounds like a bunch of CRAP to me, guess they like making that interest $$$$$ I only buy their tools, the roof on the rest of the place can fall in for all I care.
Tarey D.

 

[Little6pack]

You are too good for them! sounds funny to say but because you keep no balance or activity they don't want you.

Kinda like the pusher & the junkie. Except your a clean junkie

 

[turboscott]

Credit card companies can do whatever they want. Very little rules to govern them. Sounds like they may do that to get people worried about using the card to go buy something. If you want to keep it go use it to by something small and just pay it off when the bills comes in. Personally, I would lose the card and it's 21% interest anyway. If you need an appliance use one of the other cards you have with lower interest rates on it.

 

[GN One Day...]

LOL! I think you should frame it. I bet they don't send out many of those letters. Be proud of it!

 

[ChrisCairns]

I believe it works both ways....

You can cancel the card anytime you want, and they can cancel the card anytime they want.

Just as in a job....the company can decide they don't need you anymore....or you can decide you don't need them anymore.

Seems fair to me.

 

[salvageV6]

Best thing to do is go charge a screwdriver on it before the cancellation date.

 

[Little6pack]

I HATE SEARS

At one time I took the offer of getting thier card with 10% off anything I buy. Needed some garden tools & yard stuff.

Then came the Bill.. They love to add in CREDIT protection insurance at $4 every bill.. I called up and said WTF! I don't want that crap you are selling.. Needless to say I paid the card off & have not used it since.

 

[bruce]

Best thing to do is throw all your cards away.
Then FORCE yourself to put aside what a typical months worth of interest would be. Then you'd have cash for the unexpected emergencies.

Silly giving away money every month for no reason.

 

[salvageV6]

I think the best thing to do is read the thread.

He doesn't carry any balance hence no interest, hence no worries.

Charge something small on the card just to mess with them.

 

[turbosam6]

Yeah, I don't keep a balance on my credit cards. I figure if I can't afford something I don't need it. I keep enough cash to do anything that needs done. But its in the bank, and most places don't take a check. I couldn't live without my cc's, even if I do pay them off as soon as I get a bill. But try getting a hotel room, or rental car, or ordering car parts without them. Impossible at times. Its not going to hurt me to lose a card, I got like 4 or 5 more, and only carry 2. I was looking at my credit report from last month and my score was around 750. So the last thing I expect is a cancellation notice. Oh well, their loss. One more thing to keep me from shopping there. I need one of those discover cards that pays you back, with all the car crap I order I'd be rich!