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DragonflyJones13

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Should I close a store credit card that never use?
I have a store credit card that has been opened for less than 2 years. The card is paid off; and I never use it. Should I close it, and open a more versatile card? Or just keep it? (I'm afraid if I keep it I'll forget to use it and will have it closed by default, which may lower my credit score)

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Top Contributor
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No need to ever close accounts

Helpful to 1 out of 2 people

It lowers your Available credit limits and your score will drop.  It has less of a negitive effect if they close the card for lack of use than if you close the account. and it could take years before they close it.  if you no longer want to use it at all, then cut up the card and don't use the account any longer.  If you really do want close the account then i suggest that you get a new card before you close the old one. 

Personally, I only use store cards for specific purchases. Gifts.  These are items that I know i will be purchasing and are planned for so that the account is paid right away with oout paing interest.  1 purchase every 18 months is all that is needed to keep an account active.

Good luck

Top Contributor
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Should is up to each individual to determine.  One should certainly consider the impact to utilization in the decision making process but it is incorrect assume that no one should ever close an account.  Different people have different needs/wants/goals/preferences/priorities/etc.

If you're going to not use the card you still need to ensure that you actively monitor the account for fraud.

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