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Dear customer

May 29th, 2009 at 01:52 am

I opened my mail Tuesday to find this notice from one of my credit card companies.

Dear Customer,
Your xxxx Business Card account is funded by an independent trust which owns the balances you owe on your account and provides funding for new transactions. We expect the trust to stop funding activity on our accounts. The trust also restricts our flexibility to fund activity on your account. Unfortunately, as a result, effective May 30th all xxxx Business Credit Card accounts, including your account, will be closed.

This means that you will not be able to use your card or account for new transactions, including purchases, checks, and balance transfers beginning on May 30th. We understand that you may have written checks on your account before May 30th and we will make every effort to honor those checks that are presented to us for payment by June 3rd. If you use your card to make automatic recurring bill payments, you will need to make alternative arrangements for those payment promptly.

It's not a big deal on the surface for me since I have just one recurring bill charged to this account, and I was able to catch it (just barely) and switch it to another card. It was for a business that I have more or less shut down anyhow, so it doesn't really have an impact in that regard. They are honoring the cash back balance that has accumulated, which is minor for me. But, how bad will the elimination of the $12,500 credit limit hurt me?!

Plus, all I can think of is the what ifs. What if I had just set the letter aside for a week or so? (Something I do often when it's a "notice about your credit card", since it's usually just a privacy notice or something minor) What if I had been out of town for the week? I'm sure some people are. It sure wasn't much notice!

In other news, I planted a little more in the garden tonight - turnips. Yuck for me but DH loves them raw. Radishes and lettuce are starting to poke thru the ground also. That was quick! We just planted them last Saturday.

I found a penny at the auto parts store. It was about 6" back under a movable display rack. I'm ashamed to say I moved the rack to get it, but I really thought it was a nickel when I did it. LOL!

2 Responses to “Dear customer”

  1. creditcardfree Says:

    Yucky card. I wouldn't worry too much about your credit score. It will really only drop temporarily.

  2. PottersClay Says:

    You cracked me up with your story of moving the display rack! I have to admit that I have done the same thing - and who cares? I figure I'm also getting a good deep knee bend exercise at the same time. I think I'm going to follow your example and keep track of the money I find too.

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