Question re: unused cards

[Anonymous]

Hi all,

I have 2 Cap One CCs -- one at a $19 AF and another with $39 AF. Recently went through EO and received some somewhat decent CLIs, but the accounts still have the AF. I just tried to get them to PC both cards to non-AF versions with no success. I haven't used these in a while, and don't plan to because of much better rewards on freedom and CSP cards.

So, the question is, is it going to hurt me to keep these in the drawer and not use them? Do I need to charge something to them every so often? If so, how often? DW wants me to close one since I just got approved for Amex Blue, but I don't want to kill my AAoA any more than I already have. Plus, need the CLs to keep my util low. Any adivce/input? Thanks in advance!

[Anonymous]

closing them will not hurt your aaoa immediately..it will be at least a couple years before it makes a difference..but by then your amex cards will have aged. try getting them converted to quicksilvers. if they wont do it, then close it. theres no point in having a card open with annual fee's, especially if you dont use them at all.

[Anonymous]

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@Anonymous wrote:

closing them will not hurt your aaoa immediately..it will be at least a couple years before it makes a difference..but by then your amex cards will have aged. try getting them converted to quicksilvers. if they wont do it, then close it. theres no point in having a card open with annual fee's, especially if you dont use them at all.

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Right, key thing is that closed cards also count in the AAoA calculation, for about 10 years after closure, before they drop off the report.   But if you need the CL, then you shouldn't close!

The time taken for an issuer to close an inactive card varies greatly, but I would put 4 months as a minimum, so do a small charge about that often.   Some issuers don't seem to care.  Just got a CR and one of my cards shows last activity of Aug 2009.

[SunriseEarth]

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@Anonymous wrote:

Hi all,

I have 2 Cap One CCs -- one at a $19 AF and another with $39 AF. Recently went through EO and received some somewhat decent CLIs, but the accounts still have the AF. I just tried to get them to PC both cards to non-AF versions with no success. I haven't used these in a while, and don't plan to because of much better rewards on freedom and CSP cards.

So, the question is, is it going to hurt me to keep these in the drawer and not use them? Do I need to charge something to them every so often? If so, how often? DW wants me to close one since I just got approved for Amex Blue, but I don't want to kill my AAoA any more than I already have. Plus, need the CLs to keep my util low. Any adivce/input? Thanks in advance!

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The only disadvantage I see to closing them is the affect on your UTIL.  However, read up on the Amex 61 day CLI thread.  If successful, that would definitely offset the lost TLs.

I'd consider closing them right before AFs are due, if they aren't part of a strategy for UTIL.