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CREDIT CARD ISSUERS CUT OFF CONSUMERS -
ARE YOU NEXT?
May 12, 2008 - Last week Jeff Larson got a letter from Capital One saying it closed his credit
card due to inactivity.
Larson, a mechanical engineer in Portland, Ore., opened the account, which had a $7,000
credit limit, nearly eight years ago and hadn't used it in three. He had kept the card in part
because it was his oldest account, which helped boost his credit score.
Larson now plans to find a new card. (A Capital One spokeswoman said the company has
notified some customers whose accounts had seen zero activity over the last three years, but
added that it's not a new strategy.)
Click on the red link above to continue the story.
Source: The Wall Street Journal
ARE YOU NEXT?
May 12, 2008 - Last week Jeff Larson got a letter from Capital One saying it closed his credit
card due to inactivity.
Larson, a mechanical engineer in Portland, Ore., opened the account, which had a $7,000
credit limit, nearly eight years ago and hadn't used it in three. He had kept the card in part
because it was his oldest account, which helped boost his credit score.
Larson now plans to find a new card. (A Capital One spokeswoman said the company has
notified some customers whose accounts had seen zero activity over the last three years, but
added that it's not a new strategy.)
Click on the red link above to continue the story.
Source: The Wall Street Journal
