Inactivity on store cards

[alk1113]

I have a few cards that are apparently 'inactive' according to Equifax and they are hurting my scores. I guess - that's what Equifax said Lol

Should I close these accounts?

Thanks

[coldnmn]

If your not using them or for utilization I would. They still report as a positive TL for ten years. 

[alk1113]

Okie doke! Thanks, I'm shutting them down now :-)

[SunriseEarth]

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@alk1113 wrote:

I have a few cards that are apparently 'inactive' according to Equifax and they are hurting my scores. I guess - that's what Equifax said Lol

Should I close these accounts?

Thanks

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Of course, then you might close them and suddenly TU will say you have too many TLs with balances.  

I'd just give them a little activity and PIF and stick back in the SD, personally.   That's my current Comenity card plan.  

[gdale6]

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@alk1113 wrote:

I have a few cards that are apparently 'inactive' according to Equifax and they are hurting my scores. I guess - that's what Equifax said Lol

Should I close these accounts?

Thanks

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I would disregard what EQ is saying, it may be hurting their Fako score but it is not hurting your Fico, I would use them every 6 months to keep them open and active.

[One7]

I would buy something small, like less than $5 every few months and SD them, but if that's a waste of time then you should close them. I usually buy a shirt from each of my comenity cards every few months to keep them active, but after I have them for 24 months of reporting I'll most likely close Buckle, Express and J Crew. They would have served their purpose, plus I don't ever really shop there, actually never did prior to having their cards.

[takeshi74]

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@alk1113 wrote:

I have a few cards that are apparently 'inactive' according to Equifax and they are hurting my scores. I guess - that's what Equifax said Lol

Should I close these accounts?

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Does your EQ (FAKO) score matter?  While FICO generates scores based on your EQ report, EQ itself doesn't generate FICO's.

Have you actually checked your FICO's to see if the inactivity is causing a significant impact?  Sometimes you have to take these messages with a grain of salt.

However, as stated above, if you have no intention of using them at all and don't need them to keep your utilization low then you may want to consider closing them anyway.