It’s not uncommon for credit card issuers to close accounts. Sometimes they do so to lessen their risk when the economy is in distress, generally as a reaction to your spending activity — or lack thereof.“If you’re not paying an annual fee and you’re not using the card, you’re below the zero revenue line, you’re actually costing the card issuer money every month,” says John Ulzheimer, a credit expert formerly with FICO FICO, +1.94%, a credit-scoring company, and Equifax EFX, +2.
If the notice the issuer sent provided a reason for the account closure, use it to make a case. For instance, if the decision is due to an inactive card, let the issuer know you plan to use the card more.Also see: 3 signs your credit cards need a time-out So if a credit card issuer refuses to keep your credit card open, try countering those effects by applying for a new one with a different issuer.