Quote:
Originally Posted by classicman
Many companies are canceling credit cards if they are not used and/or the credit rating of the consumer does not meet their standards.
Google is your friend and this has been happening for at least 4 years. Its the "If you don't use it, you lose it" plan
Unrelated statistic - "37% of families are still paying off a credit card they cancelled. "
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I wouldnt say many are cancelling cards.
I would say it is primarily Capitol One, which also wont accept new customers with high credit ratings and a history of paying off charges monthly and not having any interest or penalty payments.