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Old Yesterday, 20:26   #1
LockHavenYellow
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Credit card account closed for inactivity.

It was a zero balance for a couple years and they just closed it. The ironic part is that I just called a few weeks ago to get a new card issued just in case...they sent it and it was set to expire this month (same month I requested it).

My credit is very good...just bought a house, new car, zero CC debt, and pay all of my bills.

Will this hurt my credit score? I'm a little pissed that they didn't inform me that it'd be shut down this month after getting a new card sent just recently.
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Old Yesterday, 20:38   #2
Jon_R
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I am hoping they start closing mine. :-) have a bunch with zero use and no plan to use them again.

Having less credit available can effect your score. Pending the details it can help or it can hurt. i think for max score they are looking for you to be in a range. To high goes down and to low it goes down. Just bought the house car and do not want more credit so what difference does it make. :-)

You are costing the cc company money each month. Good move by them to get the account closed and off the books.

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Old Yesterday, 20:59   #3
LockHavenYellow
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Quote:
Originally Posted by Jon_R View Post
I am hoping they start closing mine. :-) have a bunch with zero use and no plan to use them again.

Having less credit available can effect your score. Pending the details it can help or it can hurt. i think for max score they are looking for you to be in a range. To high goes down and to low it goes down. Just bought the house car and do not want more credit so what difference does it make. :-)

You are costing the cc company money each month. Good move by them to get the account closed and off the books.
Fair enough. I mean, I really didn't use the card (obviously) and I have a main card with a high limit from my bank. So, I'm all set for now...just kinda miffed me with the new card being sent and then the "closing your account" letter a week later.
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Old Yesterday, 21:10   #4
Phaze5ive
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Don't forget credit history. If it was the card that you've had the longest, it'll hurt your score.
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Old Yesterday, 21:12   #5
LockHavenYellow
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Quote:
Originally Posted by Phaze5ive View Post
Don't forget credit history. If it was the card that you've had the longest, it'll hurt your score.
It was a card that was opened to purchase an Apple product in 2010. Interest free for a year type deal. Really never used it again.
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Old Yesterday, 22:34   #6
lunarspeak
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they cancel them because they aren't making any interest if the card is sitting in a drawer not being used..
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Old Yesterday, 23:18   #7
XDRoX
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I have a CC I've probably used less than 50 times in the last 20 years. Every now and then if I can't find my main card or if it was canceled because of theft (which has happened like 5 times) I use the old card. I'm surprised they've never canceled the old card on me.

It would probably really hurt my credit score as I haven't had many cards.

I do have one of the Apple CC through Barclay that I always purchase my Apple products for zero interest. I'm a sucker for zero interest.
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Old Today, 03:47   #8
sourdough44
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It wouldn't bother me if they closed one. I do only have a few. If you want to keep what you gave try to use the card every 6-12 months.
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Old Today, 03:48   #9
Resqu2
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Lowe's kept lowering our limit because of non use, didn't know it till we tried to buy an appliance. We closed it that day.
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Old Today, 05:18   #10
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The biggest factor in your credit score is paying on time. I open and close 0% cards all the time and my credit is still in the 790s. Every 4 months I pull up a free credit score and close all the open accounts that aren't being utilized, no big deal to the score.
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Old Today, 05:29   #11
AA_Khost
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I use my USAA CC once in a blue moon for gas or something inexpensive just to keep the account open.
I'm not sure if it will hurt your credit by having it closed?

Edited: From what I just read online closing or having a old account closed will indeed hurt your credit.
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Last edited by AA_Khost; Today at 05:36..
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Old Today, 06:02   #12
1-2man
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A few years back I had a few cc companies either close my accounts or drastically cut the available credit down. It was totally fine with me as I never used them anyway but I took it personally as it wasn't my decision. I then actually called my the other companies (some had over $30K available which I'd never use anyway) and had them drop the limit way down. I now use the cards every 6 months or so, even if just to pay for a lunch or whatnot to keep them showing some activity. My credit score went from the mid 700s to well over 800 last time I checked.
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Old Today, 07:00   #13
JFrame
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I always post a scheduled monthly charge (Netflix) to one of my back-up credit cards, just to keep it active.

Once, I let that card sit idle for a long time. But at some point, I decided to use it during travel (for gasoline or something). The charge wouldn't go through. When I checked back with the CC company, it turns out they didn't close the account. They just put a security hold on it, because the new charge constituted "deviated behavior" from what had previously been going on for a year or so.

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Old Today, 07:12   #14
ClydeG19
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What's your problem? Get to shopping! The economy needs you.


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