Creditors can close your account — without warning — most of the time they do this because they see you as a high risk borrower. Some reasons you may be seen as high risk are if you have high balances or if your payment pattern has changed. Creditors typically don’t tell you they’re closing your account because they’re afraid you will start charging an enormous amount and they’ll be left with the balances. In order to avoid this, we recommend a few things, so it doesn’t look like you’re maxing out on balances and becoming a higher risk.

1. Keep your balances lower than your limits, around 30%-40% of your credit limit
2. Don’t open a lot of credit all at once, it will seem like you are in desperate need of credit.