I just received a new Barclay Credit Card 60 days ago & friday 6-22-12 they closed my account states that my account has too many inquiries since it was open i have 8 inquiries now had 4 when i was approved two months ago i just want to know can they do this? Is this legal? any advise would be helpful thanks
Wow, I've actually never heard of that before. Have you been applying for other credit cards, or other types of loans? Credit card issuers are essentially able to close an account for any reason, and the credit card statement you signed probably gives them full authority to do that. Did they give you any notice prior to closing the account?
no notice when i called they responded that my inquiries are too many now but when i was approved there were only 4 inquiries they just closed my account because i have 8 inquiries now thanks
It's a shame they didn't provide any notice, but they actually aren't required to. Unfortunately, there's really not much you can do other than write a letter to them and complain.
