It has been a while since a bank has canceled one of my cards. Back in June, 2015, American Express canceled my Hilton Honors card. That same month, Citibank canceled my Citi Hilton HHonors Visa card.
Now almost two years later, Chase is planning to cancel my Disney Premier Visa card. Chase stated in the letter, that I got via mail, that in 60 days, they are closing my account due to 2 years of inactivity. (Remember, I got this card because I wanted Disney gift cards for our trip to Disney).
Personally, it doesn’t affect me if Chase cancels this card. I never use it anyway. However, what would affect me a bit would be losing the credit line (albeit small) that is attached to this card. Don’t forget, losing credit hurts my utilization ratio and ultimately negatively affect my credit score. Not so fast Chase!
I called Chase customer service and had this credit line moved from this card to my Chase Freedom Unlimited. Remember, it is always better to move a credit line when you cancel a card or when a card will be canceled for you!