Personal Finance

Pc Financial cancelled my card automatically

  • Last Updated:
  • May 22nd, 2015 5:04 pm
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Deal Guru
Feb 14, 2006
10084 posts
1418 upvotes

Pc Financial cancelled my card automatically

I found out this morning my longest standing credit card (2007) has been cancelled due to inactivity... I hadn't used it in over a year.

What I am concerned about is the effect on my credit... And if anyone had this happen to them?!
6 replies
Deal Addict
Apr 27, 2008
1185 posts
610 upvotes
Edmonton
It might drop a little bit, but nothing substantial. They don't tend to cancel the card outright though; often they just suspend the account. You should be able to request that they reactivate it.
Sr. Member
Jul 29, 2008
863 posts
62 upvotes
cibc just did this to me -it had been 4 yrs for me because I couldn't ever remember the pin and because I don't bank with cibc never changed it. I decided I wanted to re-activate (same as you wasn't sure if it would affect my credit and it was my first card) once I explained why I didn't use it they re-activated it and I'll use it a bit to keep it active just in case as I'm not sure if it affects anything.
Deal Guru
Feb 14, 2006
10084 posts
1418 upvotes
I see, thanks for the replies.

I didn't specifically ask to have it reactivated because apparently they can't even see my account, they claim it had been closed and removed from the system... And I'd have to apply for a new one..

But when I punch in my card number through the automated system they still can come up with my balance and credit limit.
Sr. Member
Jan 5, 2015
615 posts
165 upvotes
Edmonton, AB
Huh.
I've asked PC Financial to close my PC CC several times over several years... it's still on my credit report.
I hope they close mine for inactivity, it's been about 10 years now.
Deal Addict
User avatar
Nov 28, 2007
3204 posts
1094 upvotes
Whitehorse, YT
mcg wrote: I found out this morning my longest standing credit card (2007) has been cancelled due to inactivity... I hadn't used it in over a year.

What I am concerned about is the effect on my credit... And if anyone had this happen to them?!
Wouldn't your creditworthiness take a notch up because you no longer have a line of credit with PCF. Let's say income $50k was justifying total credits of $25k. Now with PCF gone, same income has less credit, like $20k available ... better risk to my mind.
Deal Fanatic
Nov 11, 2008
8976 posts
2827 upvotes
Marzipan wrote: Wouldn't your creditworthiness take a notch up because you no longer have a line of credit with PCF. Let's say income $50k was justifying total credits of $25k. Now with PCF gone, same income has less credit, like $20k available ... better risk to my mind.
The interpretation of my credit report is slightly different. My income hasn't changed over the past few years, but my credits keep increasing with my line of credits, credit cards, etc which has also increased my score. It also decreased my borrowed(2 0% offers :D ) vs total credit % and my total credit available exceeds my annual income.

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