October 23, 2008 12:06 am

Unused Credit Card – Keep it or Close it?

Filed under: Banking,Finance — ramsblog @ 12:06 am

I recently received a letter from a Credit Card Company that my card/account will be closed if I don’t use the card before so and so date. Well, I haven’t used this card for over 2.5 years now. However, I often hear that it would be ideal to keep older credit cards thought not used just keep one of the factors (Length of credit card) influencing/impacting the credit score. TheSimpleDollar has a good write up on this topic [link].

Well, although I held this card for 8 years now, I think I let it get canceled since I don’t use it anyway. I have another card that wasn’t used in over 2 years either. I don’t know when I would receive a similar letter from that company 🙂


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