Is there any downside to letting a CC close for lack of use?

[designated_knitter]

I have a synchrony Newegg card with a 700 dollar limit.  I hate Newegg.  They are always declining my payment and honestly, there's nothing there I need or want.  

It's been open since November.  I'm thinking I'm just not going to use it and let synchrony close it for non-use.  It won't impact my utilization.

Is there any other downside from a credit reporting perspective or potential relationship with synchrony in just letting it close in 6 or 12 months?

[coldfusion]

As far as credit reporting, none.  It will report as being closed by creditor, but nobody will care.  

You will still want to check on the card regularly while it is open to ensure there aren't any fraudulent charges made.

with a $700 Cl I doubt that it being closed will have much impact on your overall utilization numbers.

It may possibly make it a bit harder for a while to get another card through Synchrony but that's a YMMV and i wouldn't be concerned.

[designated_knitter]

Thanks.

Synchrony doesn't like me too much as it is.  I have am Amazon card and PayPal Credit... both of which get heavy use but I can't get any luv even now that my utilization is down to about 13 percent across the board and they get paid down every month.

I burned them on a Care Credit account several years ago and was shocked that they let me back in with The other accounts but no CLIs to save my life.  I suppose I should be grateful they don't decrease the limits but still....

Better make room in the sock drawer!

Thanks again!

[Anonymous]

As long as you don't mind a note that says closed by grantor, no biggie. I actually closed a number of Sync cards before having them for a year and it doesn't seem to have affected my standing with them at all. 

[randian]

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@designated_knitter wrote:

Synchrony doesn't like me too much as it is.  I have am Amazon card and PayPal Credit... both of which get heavy use but I can't get any luv even now that my utilization is down to about 13 percent across the board and they get paid down every month.

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Synchrony slapped me with a big CLD ($10k -> $1500) on my PayPal Credit account, for no reason (all my credit accounts are in good standing) and zero warning. They didn't even bother to notify me, I only noticed because I logged into my PayPal account for an unrelated reason. If they aren't offering CLIs now I'm not surprised.