Unused Credit Card/ How Do I Close It Find Out?

Unused Credit Card, how do I close it Find Out? It is pertinent questions to ask, especially if the Credit card has lay Unused for sometimes, months, and probably years. Or maybe after using the card to pay off debt and the rest. Is it worth keeping these credit cards or should such account be close?

Unused Credit Card

Card Issuers May Close Your Credit Card

Nevertheless, a lot of credit card issuers close inactive credit cards account after a certain period such card has remained dormant for a certain period of time. The time varies by the credit card issuer. But generally, after 12 months of non-usage, it’s safe to assume your credit card is at risk of being close if you do not want that to take place, you should use your credit card at least once a quarter. That will make the Credit card to remain active and open.

Unused Credit Card May Boost Your Credit Score

Consequently, a credit card plays a major role in building your credit card score. A credit card with plenty amount of available credit can aid in boosting your credit card score because it lowers your credit Utilization. The ratio of your credit card balances to their credit limits. If you close a credit card with available credit, it may harm your credit score.

Age Of Credit Card Affects Credit Score

The Credit card age is another factor that must be considered when contemplating closing an Unused Credit Card. Having old accounts on your credit report helps your credit score because it indicates that you’ve more experience with credit. The Credit bureau will report credit cards closed on good standing up to 10 years so that can be taken into consideration when making your decision on closing your credit card.

Close the Unused Card You opened Just to Get a 10%

Of a truth, retail stores card especially those that are not Co-branded with a major credit card issuers, typically aren’t the best credit cards to have in your wallet. Retail stores always trap card users with credit card signups initial discounts on purchases. Most customers only sign up to enjoy these discounts even though they do not really need the Credit card. Closing one of these cards won’t cause too much damage to your credit score.

Close the Card With much Expenses and no Benefits

However, leaving your credit card open can help your credit score, it’s always worth it leaving your cards open. For instance, if you have an Unused Credit card that is, charging you an annual fee, you should use it or close it. All the same, paying a fee on a credit card you aren’t using is a waste of time and effort.

In this case, what is seen as “too many credit cards” vary from one person to another? We don’t know the specifics number of credit cards that are good for your credit score. But if you cannot manage your credit cards, closing the ones you aren’t using will make it simple for you to keep your finances on track.

Steps to Close Your Card

If you really want to ultimately close your Unused credit card account, do the following:

  • Pay off your balance
  • Call the Credit card issuer and make your request known
  • Follow up with a letter reiterating your desire to close your credit card
  • Check Your Credit report to confirm your closure.


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