I would just keep them open and see what happens after the recession is over.

Ok, you guys I am officially done with credit. I received a letter from Citibank today informing me that my Citi Flex Line of Credit was being decreased from 9500 to 8400. I was already contemplating closing this account along with the home depot mastercard. Them doing this to me, made it final. Between other creditors saying I had too much credit and this, I figured I'd killed two birds with one stone. I opened both of them right under a year ago. As far as my score goes, it will recover eventually, I don't plan on opening any new accounts for the next two years. By the way the reason stated for the decrease was too many recent inquiries, whatever, I think I may have six, including the two from them for those two accounts. I'm not upset, just done with this whole credit fiasco for awhile.

Yes sir.

You're supposed to use a sockdrawered card every 2-3 months or else a lender will close the account for inactivity. I'm surprised WaMu waited that long. Usually, lenders will close inactive accounts in a heartbeat.

I do, I just didn't for that card. I was emotionally attached to that card because it was my first "real" (i.e. $5,000 limit) Platinum card that I got when I was 22. So it was hard to close.

The lenders are really cracking down on inactive cards now though, any reason they can to close out an account they are doing it.

You're supposed to use a sockdrawered card every 2-3 months or else a lender will close the account for inactivity. I'm surprised WaMu waited that long. Usually, lenders will close inactive accounts in a heartbeat.

I was going to use my Wamu Visa at WalMart the other day and it was declined. I called to see why since the card had a 5500.00 limit and a $0 balance and was told it was closed due to inactivity!! Pretty cruddy thing for them to do since I've had the account for over 3 years and had a perfect record with them as well as on all my other card accounts. Granted, I hadn't used the card since I paid off the $3700.00 balance in 1/2007, but they could have let me know they were closing it when I called to find out why I wasn't sent a replacement card when the old one expired!! Nice of them to send me the replacement card and then close my account

First National Bank Omaha did that to me. It is called re-issue declined. After my card expired they did not send me a new one because I had not used it for over 2 years. I called them the month after it expired and they sent me a new card. They didn't close it perse, but for security reasons they did not send me a new card until they spoke with me. I closed it a year later LOL. Terrible card, I only liked it because the BIN contained my favorite number LOL.

I still can't imagine seeing Chase branches around my house.

No more Whoo hoo! It was weird for me here a few years ago seeing the Bank One's turn into Chase. I always thought of Chase to be a New York City institution (i.e. Chase Manhattan).

As for being at $250 for 8 months, that sounds a little unusual. They should have at least put you at $1k by now. How about waiting until like 1 week after December has came in and then see what happens. They usually give nice cli's around that time.

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I agree its very unusual, not to sure whats going on over there. I am going to take your advice and wait till that 1st week in Dec. Apparently, they also changed the due date on my card till later in the month (was due on the 20th), so I am going to wait until the bill cycles out and see if they out CLI or if I have to call and pitch a fit again. LOL!

Whew, horror stories, thanks for sharing the info guys, that is very sad to hear. Well Jcpenny's denied me for a cli a little while ago, and that is because I forgot that they gave me a $200 cli. It was too soon to get another one. I never asked for the cli and I wish that they would have waited until I asked for one because they give more when I request it. December is time to ask for a new one, so I hope that I will get one then.

As for being at $250 for 8 months, that sounds a little unusual. They should have at least put you at $1k by now. How about waiting until like 1 week after December has came in and then see what happens. They usually give nice cli's around that time.

As far as the Wamu account, yes they will close accounts for non activity. That was a nice limit to let go. Whew:relieved:

When was the last time you used your card? Did you use it after paying it off in January?

I was going to use my Wamu Visa at WalMart the other day and it was declined. I called to see why since the card had a 5500.00 limit and a $0 balance and was told it was closed due to inactivity!! Pretty cruddy thing for them to do since I've had the account for over 3 years and had a perfect record with them as well as on all my other card accounts. Granted, I hadn't used the card since I paid off the $3700.00 balance in 1/2007, but they could have let me know they were closing it when I called to find out why I wasn't sent a replacement card when the old one expired!! Nice of them to send me the replacement card and then close my account:worried:

The whole GEMB CLD thing is sickening. I just called on my JCPenney card to ask for a CLI and its been 6 months and they flat out denied me over the phone. I am still at the 250 CL for about 8 months now and I have used and paid the card off a couple of times. I kind've feel bad for the CSR now cause I kinda gave her a peice of my mind. "I asked her if GEMB is going out of business because I've heard from several cardholders that they are decreasing good paying customers limits. How do they expect to stay in business if they keep burning all their loyal customers." She responded back that due to everything going on in the economy that GEMB is re-evaluating all cardholders accounts to limit their exposure in the un-employment and credit crisis. Its a joke I told her.

But, I wouldn't be surprised now if she sent a message to an Underwriter to decrease my CL to like 50 dollars now lol.

Meanwhile, I read in the paper today (on Black Friday) that wall street is nervous that people are not going to buy a lot of stuff for christmas, and the economy is doing so bad now and it will just get worse if people dont get out there and shop.

Well, how the hell are people supposed to go out and shop if we can't get decent credit limits with GEMB (who holds a lot of stores cards near my house).

Ok, I am done venting now. I guess it is what it is....

Congrats Jay1 on your approval i knew you would get it!

I still can't imagine seeing Chase branches around my house.

Chase seems to be doing okay in this climate.

I dont know if it was a good idea for Chase to take on WaMu's debts but it gave them a better market share in the west, particularly in California.