What is my responsibility in the cancellation of a Purchase Charge Card account?
You have the discretion to initiate cancellation procedures for any cardholder account. Again, you must document the reason for the account cancellation. The bank shall not initiate cancellation procedures on a cardholder account without first going through the suspension process as noted in the previous section. If cancellation is initiated, it must be initiated within 180 calendar days of the billing cycle in which the unpaid charge appeared. If the bank initiates cancellation, it shall provide a pre-suspension/pre-cancellation report to the A/OPC to identify the undisputed amount that is overdue. There are two reasons for which a bank may initiate cancellation: • the account has been suspended two times during a 12-month period for undisputed amounts and is past due again; OR • the account is 120 calendar days past the billing date and suspension procedures have been met. After 120 calendar days past the billing date, the bank shall send a letter to the A/OPC and the DBO requesting
