Credit Cards

[sakhalin070]

What happens when a credit card (in good standing with $0 reporting) expires and the holder doesn't ever renew/activate the new card? 

[maiden_girl]

What do you mean by not renewing a credit card? Generally your CCC will send you a new card prior to your expiration date if you still have an active credit line with them.

[sakhalin070]

I guess I mean activating.  When they send you the card you will need to call the sticker to activate it. 

[Walt_K]

It remains open unless/until the issuer shuts it down for inactivity.  Every lender has different criteria for how long they will let an account sit unused before they close it down.

[sakhalin070]

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Walt_K wrote:

It remains open unless/until the issuer shuts it down for inactivity.  Every lender has different criteria for how long they will let an account sit unused before they close it down.

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Will having a credit card shut down for inactivity impact a credit score negatively?  Other than the UTIL rate

[Burned2manybridgesB4]

No! It's a good reporting mark that stays for ten years, on your CR's.

If you want to keep them alive, buy a pack of gum every other month.

If you're trying to get away from AF's, then ride the year, and move up.

[ccnewcc]

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sakhalin070 wrote:

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Walt_K wrote:

It remains open unless/until the issuer shuts it down for inactivity.  Every lender has different criteria for how long they will let an account sit unused before they close it down.

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Will having a credit card shut down for inactivity impact a credit score negatively?  Other than the UTIL rate

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idk, but won't it say something like "Closed by Credit Granntor"?

[nicholasyud]

Call the bank and tell them you doesnt want it ..........check your credit report and make sure they dont report it...

i mean i got my wells fargo and turn out didnt want it then after a few months they closed them out and i had to go a long process for Disputed and stuff for a few months but they did deleted it thou......

[Revelate]

If you want the tradeline I would suggest using it sporadically. If you don't, close it.

FICO won't care but there's no good reason to have UW see: "closed by credit grantor" in my opinion. May not matter; however, it might. My thoughts anyway, not confirmed by any evidence.

[Walt_K]

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ccnewcc wrote:

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sakhalin070 wrote:

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Walt_K wrote:

It remains open unless/until the issuer shuts it down for inactivity.  Every lender has different criteria for how long they will let an account sit unused before they close it down.

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Will having a credit card shut down for inactivity impact a credit score negatively?  Other than the UTIL rate

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idk, but won't it say something like "Closed by Credit Granntor"?

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So many accounts were shut down by credit grantors during the credit crunch that I don't think much weight is given to this comment.  Especially if the account is clean.  If there's a string of major lates, that's another story, but then again, it's the lates you're worrying about at that point, not the comment.