what happens if a credit card account is closed due to inactivity?
Date: Thu, 04/16/2009 - 02:13
hello, i paid off my entire balance on a capital one credit card about 2-3 years ago and i never had a default with them. since paying the balance off, i have not used the card for new purchases. a couple of months ago they sent me a letter stating that they are closing my account because i haven't used the card in so long. my question is can this hurt my credit score? can they even close it without my consent? thanks.
Yes, closing an old credit card account will lower your credit s
Yes, closing an old credit card account will lower your credit score because if your card is closed, you will lose the credit history that you have on the card. Since you have never defaulted on the card, you must have a good credit history and so your score will come down.
