Here's an email I just got from the FDIC about NextCard, a bank who issued me a credit card. They are kaput.
Dear NextCard. Cardholder:
This email contains IMPORTANT information about the status of your
NextCard credit card account with NextBank., N.A. ("NextBank").
PLEASE READ THIS ENTIRE EMAIL CAREFULLY.
NEXTBANK CLOSED
You are receiving this letter because you have a credit card issued
by NextBank with a NextCard logo on the front. NextBank was closed
by the Office of the Comptroller of the Currency on February 7,
2002. The Federal Deposit Insurance Corporation ("FDIC") was
appointed Receiver and is responsible for administering the affairs
of the failed NextBank.
As is customary in the credit card industry, the loans associated
with NextCard credit card accounts were sold to third parties. The
FDIC as Receiver for NextBank continues to be the servicer of your
account. Every effort was made by the FDIC to transfer the
servicing of your account to another financial institution so that
your credit card account can remain open. However, those attempts
have failed.
As a result, effective July 10, 2002, your NextCard credit card
account is closed. You will no longer be able to use this credit
card. If you attempt to use the card, merchants and ATMs will
receive a message to decline the card. Please cut the card into
pieces and dispose of the pieces. If you have any automatic
charges (e.g., monthly, quarterly or otherwise periodic) paid
directly with this card, please notify those billers or merchants
immediately to cancel the automatic charges or switch them to
another credit card.
You are obligated to pay the outstanding balance in full. Interest
will continue to accrue on your balance, and penalty fees will be
assessed in the same manner as before. You may be contacted by the
third party that owns your loan with additional information
regarding repayment.
THIS ACTION WILL NOT AFFECT YOUR CREDIT RATING
The leading credit-reporting agencies will be informed of this
action, and your credit rating will not be harmed as a result of
your credit card privileges being discontinued.
ADDITIONAL INFORMATION
You may continue to access your account information from
[link deleted] as normal
for a limited amount of time. For additional information regarding
the closing of NextCard accounts, please visit
[link deleted] rather
than calling customer service. No additional information regarding
the failure of NextBank or the closure of your NextCard credit card
account will be available from customer service representatives.
We regret any inconvenience.
** Please do not reply to this email **
Sincerely,
FDIC AS RECEIVER FOR NEXTBANK