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Author: Neglectarino Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308462  
Subject: account deactivation Date: 5/23/2001 1:21 PM
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Mangard raised the issue of "freezing" or card deactivation today (post #72168) and I wanted to isolate my questions about it from the thread it was posted in response to (a roundabout way of giving credit where due, pardon the pun).

If I understood Mangard correctly, I can call my CC issuers and request a card deactivation that will result in a hold on the interest rates and prevents any further use of the card. This is reversible with advance authorization. I would like to know (among other things) what impact, if any, account deactivation would have on my credit report or score. Has anyone pursued this line of action? What was your experience with it? Would you recommend it? Under what circumstances?

-neglectarino
welcome to your new home...
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Author: vakoala Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 72209 of 308462
Subject: Re: account deactivation Date: 5/23/2001 3:34 PM
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If I understood Mangard correctly, I can call my CC issuers and request a card deactivation that will result in a hold on the interest rates and prevents any further use of the card. This is reversible with advance authorization. I would like to know (among other things) what impact, if any, account deactivation would have on my credit report or score. Has anyone pursued this line of action? What was your experience with it? Would you recommend it? Under what circumstances?

I have heard people do this when the CC Company changes the agreement and sends you a letter saying to have to respond to decine the change. Then the account gets frozen at the present terms.

I would do this if a company raised the interest rates or changed the way it calculated them and I was trying to pay them off (and did not want the card when I was done).


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Author: Mangard Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 72230 of 308462
Subject: Re: account deactivation Date: 5/23/2001 4:48 PM
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Disclaimer:

I just wanted to add that I am not sure that they really do "freeze" your interest rate. But, for sure, they did not raise mine and they had ample opportunity and motivation to do so. And I still have the card "open" and on my credit report.

Try calling them and asking directly.

Mangard...who takes advice from the horse's mouth.

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