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Will card closed for non-use adversely impact score?

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expatCanuck
Super Contributor

Will card closed for non-use adversely impact score?

Will a credit card closed by the issuer for non-use adversely impact one's FICO score, ignoring any utilization impact and number of cards reporting against total number of cards?


2023 Goal: save 3 months' net income

Starting FICO8: 666 (give or take a FICO)
[ Last INQ 12-Feb-2024 ]
EQ8415 INQ (Auto, CC, HELOC, 2 mort)7y2m
EX8125 INQ (2 CC, 2 mort, HELoan)6y11m
TU8294 INQ (3 CC, 1 mort)6y6m
5/243/12AoYA 0m | AoOA 23y6m~3%
Message 1 of 8
7 REPLIES 7
pizzadude
Credit Mentor

Re: Will card closed for non-use adversely impact score?


@expatCanuck wrote:

Will a credit card closed by the issuer for non-use adversely impact one's FICO score, ignoring the any utilization impact and number of cards reporting against total number of cards?


No.  The only reason it would hurt your score is if your revolving utilization / percentage of cards with balances increased. 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 8
SouthJamaica
Mega Contributor

Re: Will card closed for non-use adversely impact score?


@expatCanuck wrote:

Will a credit card closed by the issuer for non-use adversely impact one's FICO score, ignoring the any utilization impact and number of cards reporting against total number of cards?


No it would not. The only way it could hurt would be that many years down the road, when it stops appearing in your reports, it will no longer be factored into AAoA.


Total revolving limits 657200 (536700 reporting) FICO 8: EQ 712 TU 710 EX 708

Message 3 of 8
CorpCrMgr1
Valued Contributor

Re: Will card closed for non-use adversely impact score?

Thank goodness!

Message 4 of 8
pizzadude
Credit Mentor

Re: Will card closed for non-use adversely impact score?

I'll add here that the reason for closing the card also doesn't matter - whether you close it or the creditor it won't affect your FICO score except as described above. 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 5 of 8
Thomas_Thumb
Senior Contributor

Re: Will card closed for non-use adversely impact score?


@expatCanuck wrote:

Will a credit card closed by the issuer for non-use adversely impact one's FICO score, ignoring any utilization impact and number of cards reporting against total number of cards?


No, never.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 6 of 8
expatCanuck
Super Contributor

Re: Will card closed for non-use adversely impact score?

When I grow up, I'd like my scores to resemble those of @Thomas_Thumb.


2023 Goal: save 3 months' net income

Starting FICO8: 666 (give or take a FICO)
[ Last INQ 12-Feb-2024 ]
EQ8415 INQ (Auto, CC, HELOC, 2 mort)7y2m
EX8125 INQ (2 CC, 2 mort, HELoan)6y11m
TU8294 INQ (3 CC, 1 mort)6y6m
5/243/12AoYA 0m | AoOA 23y6m~3%
Message 7 of 8
gorgon
Established Contributor

Re: Will card closed for non-use adversely impact score?

Smiley LOL

Message 8 of 8
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