Why did Credit One close my account?

"Account closed due to transfer" is a phrase that appears on your credit report when you consolidate your account's debt. In other words, it’s when your debt is transferred by your lender from the old accounts into the new consolidation loan. Once this happens, your old account becomes redundant, but still stays on record as part of your credit history.… read full answer

A transferred status is considered final, meaning the account is no longer active.

You should use your credit card at least once every three months to keep it active (but more often than that if you want your credit score to improve at a faster rate). Not all issuers are the same when it comes to credit card inactivity. Some might never close an inactive card, while others might do it after only a few months. But there aren’t any major credit card companies that state they’ll close your account before it’s been inactive for three months.… read full answer

Here’s how often you should use your credit card to keep it active:

• Amex: No disclosed time limit but will sometimes close based on inactivity. They’ll notify you first and give you a chance to use your card to prevent it, though.
• Barclays: Will close accounts after 6 months of inactivity. They will notify you 2 months in advance and will give you a chance to use your card.
• Capital One: Will close as soon after 12 months of inactivity. They will notify you beforehand and give you a chance to use your card.
• Chase: Will close after 6 months of inactivity. They will send you a letter inviting you to use your card to prevent it from being closed.
• Citi: Will close accounts after 15 months of inactivity. They may notify you beforehand.
• U.S. Bank: Will close account after 18 months of inactivity. May notify you beforehand.
• Wells Fargo: No disclosed time limit but will sometimes close based on inactivity. They will always send a letter ahead of time notifying the cardholder and giving them an opportunity to become active and avoid the closure.
• Bank of America: Will close accounts after 24 months of inactivity. They will send you a letter inviting you to use your card to prevent it from being closed.

Keep in mind that “activity” could be as little as making a $1 purchase. Making a payment or a balance transfer usually counts too, depending on the issuer. And issuers will often contact you if they’re planning to close your account based on inactivity, in order to give you a chance to keep your card by using it. Just make a small charge and you should be all set.

As long as you can afford to, though, you really should use your credit card every month. It’s not a bad thing to have zero balance, but your credit score won’t improve as quickly as it would if you make charges and pay them off. Don’t feel forced to spend, but consider charging at least one small thing.

Whether or not you can reopen a closed credit card account depends on three things: 1) the card’s issuer, 2) how long it’s been since the account was closed, and 3) why it was closed. American Express and Chase and are among the major issuers that offer the possibility of reopening a closed account. Others, like … read full answerBank of America, Barclaycard, Citi and Discover, will not even consider it, though. For example, Discover's website notes, “You cannot reopen a card account once it has been closed. You will have to reapply for a new Discover Card.” The best way to find out if your card can be reopened is to call the issuer’s customer service line. And you’d better act fast. In the cases where an issuer is willing to reopen an account, it typically can’t have been closed for more than three to six months.

Here’s how to reopen a closed credit card:

1. Call customer service. If you still have your card, the number is on the back. If not, it should be easily available online.
2. Provide your personal info. The issuer will need to find your old account in its records, so you’ll need to give them information such as your name, Social Security Number and address.
3. Explain your situation. Tell the representative why your account closed and why you’d like to reopen it.
4. Authorize a credit pull, if necessary. The issuer may need to do a hard pull of your credit before it can approve the reopening of your account. This could lead to a temporary dip in your credit score, though. Avoiding that is one of the main reasons people are interested in reopening a closed account rather than applying for a new one.

Calling customer service definitely is a wise move if your account was closed due to inactivity (i.e. you didn’t use your card for a long time). You may have luck if you say you’ll start using it again. And if you voluntarily closed your own account and then changed your mind, you might be able to get it reopened, too.

But if your card was closed because you committed fraud or other illicit activities, you obviously won’t be allowed to reopen it. Basically, anything that violates the card’s terms and conditions results in permanent closing.