Just checked my bureaus Nextcard showing closed by them. I have a perfect record with them over 38 months nows says closed by them with 83.00 balance.!!!! Does it count against you if they close the account instead of yourself????
JUST DISPUTE IT...ACCOUNT SHOULD SAY---->"ACCOUNT CLOSED BY CONSUMER" DOES IT REALLY SAY "ACCOUNT CLOSED BY CREDIT GRANTOR"???
Pay of the balance ---->tomorrow. Then dispute it through the CRA's as closed by consumer. Or... if you want to keep it open, dispute it as open/never late, however, you should test the card out tomorrow (before disputing) to see if it really is closed, or if Nextcard is just playing games with the CRA by reporting it as closed.
Use it at PAY AT THE PUMP for gas...get $5.00 or something... This will confirm it is still open... DON'T USE IT INSIDE------>"SORRY SIR/MAM YOUR CARD WAS DENIED...SAYS CLOSED ACCOUNT" If you have a HOME PHONE/CELLPHONE account with on-line pay...pay $5.00 on that to check out the card...
This is exactly what I was worried about when I closed my NextCard account back in February. I'm beginning to feel like Miss Cleo: http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=142558#post142558 Doc
Hey George, if you pay at the pump and it's declined, it will say "Please see cashier" that way WE can tell them "Sorry sir it was declined, says invalid account"
You were right. Doc. I guess their financial picture was to bleak for another credit card company to even consider purchasing NextCard and their accumulated debt. Well, at least we all learned something from this, once the federal government gets involved...close the damn account. Dani
For those of you who just found out your account was closed: When you check your account online, is there anything to indicate it is closed? I'm going to check my statement now and see what it says, if anything. I pulled worthknowing two weeks ago, and it did not indicate closed.
Nothing showing up on my online statement to indicate it is closed. Did any of you receive any notification from them that the account was being closed? I don't want to use it and find out it is closed. I usually use it at the doctor.
I can still sign in to my account that I closed late last year. For what it's worth the first online page after I log on says "Your account is currently closed."
I just called and mine is still active. The rep said they closed some accounts that had been inactive/ had issues in the past but that they were still being bid on currently. Hype? who knows. Now I don't know if I should just go ahead and close the account. I was hoping to get 24 mos out of it first... but I'm now wondering if the "closed by credit grantor" thing is worth worrying about it... She did suggest you use your card to keep it active with them
It looks like Next Card is still operating but just barley. I have a card with them that has been at zero balance since Febuary or so. I called the 800 number and the system lists my card as zero balance with a line of credit so I assume it is still open. "SAN FRANCISCO, Mar 12, 2002 (BUSINESS WIRE) -- NextCard, Inc. (the "Company") announced today that it has signed a Restated and Amended Service Agreement (the "Agreement") with the Federal Deposit Insurance Corporation (the "FDIC-R"), in its capacity as Receiver for NextBank, N.A. ("NextBank"), the Company's former banking subsidiary. Pursuant to the Agreement, the Company transferred its portfolio servicing operations to the FDIC-R and agreed to continue providing, for a minimum of three months, certain administrative services and a nonexclusive license for the Company's intellectual property. The Agreement provides for the FDIC-R to have uninterrupted access to the Company's technology and proprietary systems during the period of time believed necessary for the FDIC-R to market NextBank's credit card portfolio. In exchange for the Company's commitment to continue to provide technology support for the NextBank portfolio, the FDIC-R has agreed to pay certain ongoing fees and retention benefits necessary to maintain this support. The FDIC-R has the option to continue the agreement on a monthly basis after May 31, 2002 in return for the Company's agreement to continue providing support. The FDIC has also made a non-recourse loan to the Company of approximately $1 million. The loan is non-interest bearing, will mature in six months and is secured by an assignment in favor of the FDIC-R of all of the Company's right, title and interest in and to the security backing a letter of credit, in like amount as the loan, executed in favor of MasterCard International. In connection with the Agreement, the Company has reduced its number of employees by 546 persons (approximately 90% of the Company's workforce), leaving 65 persons remaining employed by the Company. Of the employees terminated, 465 persons have been offered temporary employment with a third-party contractor on behalf of the FDIC-R. The movement of the Company's workforce to the supervision of the FDIC-R is intended to ensure continuous provision of customer and portfolio servicing with respect to the NextBank credit card assets." http://tools.thestreet.com/tsc/quotes.html?pg=qcn&guid={5629C61F-26FD-4E4A-B45C-D933742A3890}&symb=NXCD&sid=148039&orig=1&timer= "Once the FDIC Service Agreement has been terminated, we anticipate that our cash will be insufficient to permit continued, sustained operations. In order to continue operations beyond the termination of the FDIC Service Agreement, we will either require a substantial capital infusion or will need to have developed and implemented a new business model that generates substantial cash flow, or both. We are actively exploring strategic alternatives, which might include a merger, asset sale or similar transaction or a financial restructuring. Any such strategic alternative is likely to include our making a chapter 11 bankruptcy filing. Potential investors in our common stock should consider the risk that, whether or not we complete any of these transactions, our common stock may have no value. In addition, we are currently subject to several class action lawsuits and investigations by the OCC and the FDIC. On or about March 18, 2002, our common stock was delisted from the Nasdaq National Market System after our voluntary request for delisting due to our inability to meet the Nasdaq National Market System's continued listing requirements. The accompanying financial statements have been prepared assuming that we will continue as a going concern. However, the accompanying Report of Independent Auditors states that we have incurred recurring operating losses and experienced recurring negative cash flows from operations. In addition, their report goes on to say that our principal subsidiary, NextBank, N.A. was closed " http://old.edgarpro.com/edgar_conv_html/2002/05/21/0000950149-02-001083.html#FIS_LEGAL_PROCEEDINGS
Just talked to customer service.... I need the CL for ratios, so I don't want to close my zero balance account...Patty in customer service told me they were still doing business as usual, and when I mentioned NextCard closing my account as "closed by credit grantor", she said, "We would never do that." She said she couldn't say what the future holds, but that she would advise against closing the account right now. I think I will leave it open until the end of the month, unless I see a lot more posts from Creditnetters stating their accounts have been closed by NextCard.
