I just got a letter in the mail telling me my Citibank Costco Visa card with a $65,200 credit line was just closed with no warning! No email, no letter nothing telling me just to make a small purchase to keep the account open nothing.
I was under the false assumption that since it was attached to my Costco account this wouldn't happen as long as I had a Costco membership. I called and tried to get my card reinstated with no dice I did however manage to get a credit line increase on my Citi double cash card with no credit check as a consolation prize.
The last time this happened to me was during the mortgage crisis and many of my credit lines were slashed and cards were closed. Banks seem to do this type of thing whenever there is a looming economic crisis I have seen this pattern so be sure to keep activity on your credit cards with the largest credit lines and also your oldest accounts as closure of these will hurt your credit score the most.
Please don't lecture my about keeping activity on my accounts I'm well aware this was my fault for not doing so but I was using other cards which have a higher cash back percentage than the Costco visa. For example the BoA cash rewards card at Costco gives me 2.2% cash back and the NFCU more rewards AMEX gives me 3% on restaurants and fast food without having to wait all year and take a coupon to the store to cash in. I get 7% back on gas with another program as well. That's why this card saw no action. I'm just posting this as a heads up warning for others.