What happens if I close this account?

[Anonymous]

I have a furniture store line of credit, $1000 that I established @ 6 years ago at the store site. I haven't used it in @3 years, but it still shows on my EQ. It doesn't show at all on TU or EX. I called the company a few weeks ago, and they said the account is inactive, and they would have to do a hp to reactivate it.

I don't really need the card, but didn't close it for fear of my score dropping. What should I do here, leave it alone, reactivate it, or close it?

What would happen to my score if I did de or reactivated it?

thanks

[Anonymous]

If you haven't used it in three years, there is no reason to keep it open. Closing it will not impact your credit score unless doing so drives up your utilization percentage.

[Anonymous]

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@Anonymous wrote:

If you haven't used it in three years, there is no reason to keep it open. Closing it will not impact your credit score unless doing so drives up your utilization percentage.

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That's what I'm afraid of. It seems like it would naturally drive up the %age since my available credit will go down by $1000. EQ is still showing it as open.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

If you haven't used it in three years, there is no reason to keep it open. Closing it will not impact your credit score unless doing so drives up your utilization percentage.

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That's what I'm afraid of. It seems like it would naturally drive up the %age since my available credit will go down by $1000. EQ is still showing it as open.

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What is your total credit lines, and how much are you currently using? I closed $6300 in credit lines in April, and it had zero impact.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

If you haven't used it in three years, there is no reason to keep it open. Closing it will not impact your credit score unless doing so drives up your utilization percentage.

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That's what I'm afraid of. It seems like it would naturally drive up the %age since my available credit will go down by $1000. EQ is still showing it as open.

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What is your total credit lines, and how much are you currently using? I closed $6300 in credit lines in April, and it had zero impact.

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By lines, doyou mean only credit cards? If so it's 9000.

[Anonymous]

And how much of that $9K are you using?

[Anonymous]

@ 15%

[Anonymous]

If you closed the card your utilization would increase by less than 2%. Not an issue.

[NRB525]

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@Anonymous wrote:

@I have a furniture store line of credit, $1000 that I established @ 6 years ago at the store site. I haven't used it in @3 years, but it still shows on my EQ. It doesn't show at all on TU or EX. I called the company a few weeks ago, and they said the account is inactive, and they would have to do a hp to reactivate it.

I don't really need the card, but didn't close it for fear of my score dropping. What should I do here, leave it alone, reactivate it, or close it?

What would happen to my score if I did de or reactivated it?

thanks

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Don't mess with it. It's effectively closed. You don't have to do anything. No one is going to be able to charge on it for you, the bank will still report the TL for some number of years, and there's no point in "closing" it now, you're too late to do that

I have two versions of a Syncrony American Eagle store card from 2006/2009 timeframe. One was closed as part of some internal data migration they did. I never did anything with them, they just closed/inactivated the cards. They still show up on my reports as closed.

Edit: If you think that "Closing" a card removes it from your CR, no, it does not. it still reports for a long time, so there's no "removal" step you can take at this point, and really, no removal step you would want to take as long as the account has no lates or negatives.