Expiring credit cards

[Anonymous]

I have a couple of my credit cards that are expiring here very soon and the credit card companies are issuing me new credit cards.  If I don't call the number to authorize this credit cards for use would the cards just be canceled?  I don't really want to renew these cards for future use but if I close them I still have a couple of credit cards with high balances and that would make my available credit fall back down percent wise.  I am trying really hard to get my balances down on the high balance credit cards but I am finally almost up to the 700 fico score again and I don't want my score to drop because I close the credit cards that are at a zero balance and have that negatively effect my credit score because I still have the ones with the higher balances. 

[Anonymous]

Yes, if you don't call they will not activate the new cards and your present ones will expire and they will be closed.   I learned the hard way when I neglected to do so with my BoA card and lost an 8K credit line which affected my debt to credit ratio which caused a chain effect when other cards lowered my limits as a result of this.

Renew them and keep them open, and only use them once in a while for a small transaction here and there and payoff those balances immediately (so they won't close them for inactivity). 

Message Edited by BlackBellamy on 03-02-2010 09:19 AM

[Anonymous]

Thanks, I can definitely do that.  I know one of my credit cards the percent rate went to the outrageous level when I was having problems and now that I got my fico score up I will have to call and see if they can lower that oo. 

[laz98]

we didn't call to renew when 2 of our cards sent us new ones........they haven't cancelled our accounts yet.  i figure as long as we are paying them, they won't close 'em