Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
kaelyn1313

0 Contributions
0 People Helped
What do to with unwanted credit card account?
I currently have 3 Amex cards and I no longer want one of them because it doesn't have any kind of benefit like redeemable points or cash back. Is it better to close the account or to just not use the credit card for an extended period of time and let the credit card company close it for being inactive? I currently have excellent credit and I don't want that to change.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
33 Contributions
17 People Helped

It is usually better to just let the credit card company close it from inactivity.  Whether it impacts your excellent score, would depend on the age of the card and the limit.  If you cancel it, your age ratio for all your cards/debts are recalculated.  If it's an old card, that might have a negative impact on your score.  If it had a high limit, it will decrease the amount available, which could also hurt your score. However, keep in mind that those things will still eventually be taken into account if the creditor closes it due to inactivity...which may not happen for a number of years. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.