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FIA / Credit card cancellation due to inquiry

United States Review updated:
1
My wife just told me that after simply making an inquiry as to if it would be possible to get a lower credit card rate on an account which has been successful and paid on time as per the rules of the credit company. There were never delinquent payments or unpaid minimum payments yet without any prior warning the simple act of making such an inquiry was punished. This country has surely suffered enough with the bad banking practices but to take a successful account which has always been paid and just up and cancel it because a customer made an inquiry has got to be a moral crime. This is why the privacy of information is so critical in our day because of financial sabotage acts like this where by a sacred trust in the banking system is ripped apart by callous, automaton banking and risk analysis staff at a credit card applying mindless rules without mercy. There was not even an attempt to change things by raising the minimum due or asking that we pay off or transfer out balance. Just an uncooperative and evil cancellation of our credit card.

Does not seem utterly wrong. Does that make any business sense at all? I can only hope one of the idiots behind such ###ic policy will re-think it because common sense tells me and I am not even in the banking industry. I gain nothing by suddenly hurting a customer's credit rating by canceling their credit card even though they are employed and paying their bills on time. Such decisions must be mindless because they make no sense at all considering the credit card company failed to act until an inquiry was made. To act in this way only decreases the odds the balance will be paid and guarantees that no future increase in a balance and credit line which was set at 45K and had less than half of it filled.

Correct me if I am wrong Are not the credit card companies looking for employed people to use credit cards? So why would such a credit card company act in such a way and we have collateral in real estate and liquidity in bank accounts and so does any of this make any sense?
I am truly at a loss to understand such thinking!
Something must be done to stop FIA today. They are two big. They are two powerful and their methods of intimidation rival the Taliban. This company should not receive a penny of US tax payer money and I would like to see the US government come down hard on their poor and unfair business practices.
I can only hope they will find themselves in a class action lawsuit real soon!
If there are others out there in a similar situation I can only hope a shrewd lawyer out there will take the lead in creating a class action against such an evil finance company. As I said before the bills were paid. Other than an inquiry this credit card company had no reason to cancel our credit card and yet they did for reasons we do not understand. As I said they could have adjusted the minimum payment rules or lowered our credit limit. All they could do was cancel the credit card. That was cold and completely uncalled for does anyone agree with me based on this complaint?
Ro
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Comments

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De
  12th of Nov, 2008
Agree Disagree 0 Votes
FIA has for the past three months debited my checking actt without my permission. First call they were very apologenic and said they would reverse the the debits along with NSF fees. A week later they told me I authorized the debits and only after I asked for a manager and got read the riot act for not calling after the first one did they again promise to do it. We will see if they follow thru.
St
  25th of Nov, 2008
Agree Disagree 0 Votes
I have been trying to establish credit and i recently recieved alot of credit cards issued by ge money bank it triggered a fraud investigation and they(ge money bank) closed all my accounts 10 of them after i sent them my personal information -lic., ss card, phone bill etc. there reason for closing my accounts was to many inquiries. is that legal anyone ?

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