I guess Credit Card companies have hard times too...

[BIGSHCLUNK]

I'm going through the mail this morning and get this letter from one of the companies for one of my business credit cards. I won't go through the whole thing but check this out...

Dear Customer,
Your XXXXXXX Business Credit Card account is funded by an independent trust which owns the balances on accounts and provides new transaction funding. We expect the trust to stop funding activity on our accounts. The trust also restricts our flexibility to fund activity on your account. Unfortunately, as a result, effective May 30th ALL XXXXX Business Credit Card accounts, including your account, will be closed.

I never saw anything like that in 25 years in business... 

[farmertan]

Whew thank goodness it isnt just me I got the same letter from Advanta a couple days ago. Problem is its our fuel card for our over the road semi's.

[ViperMan]

....does that mean you don't have to pay the rest of the balance? 

[farmertan]

They said at this time you dont have to pay the balance in full, yet. 

[BIGSHCLUNK]

Whew thank goodness it isnt just me I got the same letter from Advanta a couple days ago. Problem is its our fuel card for our over the road semi's.

Now I dont feel so bad either!!! I really liked that SAVE 5% on fuel!!!!!! 

[67vertman]

Add me to the list as well.  They canceled one of my cards last month.  Luckily I didn't have a balance on it.

I think we will see more and more of this in the future.