- Centurion Member
- Posts: 467
- Joined: Sat Apr 13, 2013 7:49 pm
- Location: Colorado, USA
Keeping them open or closed is of course a personal decision. Closing the cards, any cards, will not immediately impact your credit report as far as the AAofA, since the accounts stay on your report for at least 10 years. Where closing the cards could have an impact is your total utilization, since the accounts will not be active, your available total credit decreases. Just a couple of aspects to keep in mind when making the decision to close.
As far as automatically closing, I think it's more a function of the issuer. GE for example, decreased the CL on my Lumber Liquidators card after about 28 months of non-use (I purchased flooring thru one of their promos), but dropping it only a few hundred $$. Shortly after that, I decided to close the account rather than just SD, since I really had no further need for it as it would not adversely affect my credit reports.
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016