Can You Reactivate a Suspended Credit Card Account?

 Has this ever happened to you? You hand over your credit card to conclude a purchase, only to find out that it has been declined? Such a situation can be quite upsetting and can leave many individuals panic-stricken. After all, it is not uncommon for financial institutions and credit card companies to cancel consumers’ card accounts, leaving them stranded without any means of credit whatsoever. Nevertheless, before assuming the worst, you should call up your credit card issuer and find out what exactly has gone wrong. In certain scenarios, card companies may suspend their clients’ accounts. However, the facility can usually be reinstated by clearing up the issue causing the stoppage. The institution will probably issue you a new card with a different number while the other aspects of your account should remain the same. Following are a few instances when a card company may suspend your account, and what you can do to reactivate it.

1. Your credit line has been reduced: If you are carrying debt on your card and your limit is reduced by the issuer, your balance may exceed the new credit line. Hence, the issuer may suspend your account, thereby squelching your borrowing ability. To reactivate, you’ll need to pay down your balance. Try to keep your debt limited to 30% of the new credit limit. This can protect your credit score and may also help you in qualifying you for a credit line increase in the future.
   
   
2. You used an inactive card: In case you’ve ignored your card for a significant amount of time, it may not work when you finally decide to use it. This is because it may have expired, or the issuer may have suspended your account due to lack of use. Even if the issuer sent you a new card to replace your expired card, you must still follow the activation instructions in the accompanying letter before you can swipe it. To reinstate an inactive card, all you need to do is contact your issuer and tell them that you want the account. They will most likely send you another card that you can use.
   
   
3. Possibility of fraud: In case the issuer notices suspicious transactions on your account, they may suspend your card, especially if the security department tried to reach you but was unable to get through. Perhaps your phone number changed, but you failed to inform your credit card company. In such circumstances, the institution may withdraw the credit facility extended to you. To reinstate, you’ll have to call the card company and request that they reactivate your account. In case it’s a genuine case of fraud, the issuer will close your account and issue you a new card.
   
   
4. Late bill payments: If you haven’t paid your bill in a long time, or if you’ve gotten into the habit of making late payments, the issuer can suspend your account. This will not only hurt your credit score; it may also cost you your account unless you repay the amount immediately and improve your payment habits.

As can be seen from the above instances, it is usually possible to reinstate a suspended credit card account. However, in some cases, it may happen that the issuer is unwilling to reactivate your card, or they may close your account altogether. This can be a blow, especially if you were planning to use the line of credit for a specific purpose, such as funding your small business. Nevertheless, you need not despair. For such people, our team at Fund&Grow has a great solution! We help individuals with good credit obtain as much as $250,000 at 0% interest for a period of 6, 12 or 18 months. This amount is unsecured and can be used for any purpose whatsoever, no questions asked. So, if you need this kind of funding, call us at (800) 996-0270, and we will help you out immediately!

Ari Page is the CEO of Fund&Grow. He resides in Spring Hill, Florida with his wife and two children.

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