Compounded Interest
I just got a letter from Chase out of the blue today that two of my credit cards have been closed because they haven't been used in 24 months. Ironically, recently I thought of putting some stuff on them but never got to it. These are two cards that don't give you benefits or points so I concentrated on the cards with advantages.
When I called Chase to complain that if I'd been given notice I would have used the cards, they said they can't reopen the accounts but I could apply for new ones. Which would compound the negative effect on my credit report from the closings, wouldn't it? My current status would probably make it harder for me to get a new card, and the interest rate would probably suck if I did. I asked if they could make this up to me somehow. Nope. I told them I'd keep all this in mind for the future.
If you have Chase cards you want to keep but haven't used in about 24 months, put something on 'em.
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I also got four invoices totaling about $2500 from Quest Diagnostic because my insurance company hasn't contacted them at all about my July bloodtests. I'll have to call UMR about this stuff again. This is the insurance company I pay $556.50 a month to.
When I called Chase to complain that if I'd been given notice I would have used the cards, they said they can't reopen the accounts but I could apply for new ones. Which would compound the negative effect on my credit report from the closings, wouldn't it? My current status would probably make it harder for me to get a new card, and the interest rate would probably suck if I did. I asked if they could make this up to me somehow. Nope. I told them I'd keep all this in mind for the future.
If you have Chase cards you want to keep but haven't used in about 24 months, put something on 'em.
***
I also got four invoices totaling about $2500 from Quest Diagnostic because my insurance company hasn't contacted them at all about my July bloodtests. I'll have to call UMR about this stuff again. This is the insurance company I pay $556.50 a month to.