Can a credit card company cancel and close my account if I’ve never been late on a payment with them but they say its becauseI was late on another credit card?

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Can a credit card company cancel and close my account if I’ve never been late on a payment with them but they say its becauseI was late on another credit card?

Asked on January 15, 2012 under Bankruptcy Law, New York

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Check your credit card agreement with the credit card issuer to be sure, but is it almost certain that they can do this. Credit card agreements generally give the card issuer the right to cancel the card at any time, for any reason whatsoever. Sometimes they need to provide notice of cancellation; othertimes, the agreement lets them do it effective immediately. The agreement is a contract; the card issuer can do anything the agreement allows it to do.


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