Released: June 26, 2009

Dumped by your card issuer?

Source: Beverly Blair Harzog, CreditCards.com

Breaking up is hard to do. It’s especially tough if you don’t see it coming.

“When a creditor closes an account, they are doing so for probably one of three reasons,” says Cate Williams, vice president of financial literacy at Money Management International in Houston, a national chain of nonprofit credit counselors. The three are:

* The account is inactive and there is no balance.
* The account has terms that the creditor no longer wants to offer.
* The card is closed for an undisclosed reason.

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