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02/10 2009

Try to reopen a closed credit card

Dear Liz: I was traveling and forgot to pay my credit card bill last month. Instead of just charging a late fee, my issuer closed the account. I have high credit scores and had a high limit on this card. What can I do?

Answer: Write the issuer’s chief executive. Most credit card issuers are trying to reduce their risk, but slamming shut an account for a good customer with high credit scores is ridiculous. The decision was probably made by a computer, but you’ll need human intervention to get it reversed. Good luck.

P.S.: Consider setting up automatic bill payments so this doesn’t happen again.

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