Q: I have an old credit card that is paid off. I never use it. I’ve kept it open because I thought closing it could negatively impact my credit score. My creditor has informed me that they will be closing my account due to inactivity. Would it be better for my credit if I closed […]
Your Financial Life – Credit Account Closures
WRITTEN BY: Joanna Fifner, Extension Educator, Ohio State University Extension, Medina County, fifner.2@osu.edu
REVIEWED BY: Candace J. Heer, Extension Educator, Ohio State University Extension, Morrow County, heer.7@osu.edu
SOURCES:
- http://blog.equifax.com/credit/credit-tips-what-to-do-when-an-issuer-closes-your-credit-card/
- http://www.consumerfinance.gov/askcfpb/83/i-received-a-notice-from-my-card-issuer-telling-me-that-they-were-closing-my-account-and-that-i-cannot-use-my-credit-card-any-more-can-they-do-that.html
REFERENCES:
- https://www.consumer.ftc.gov/articles/0153-choosing-credit-counselor
- http://livesmartohio.osu.edu/money/rini-41osu-edu/your-financial-life-credit-reports/
- http://livesmartohio.osu.edu/money/heer-7osu-edu/your-financial-life-credit-scores/
- http://livesmartohio.osu.edu/?s=Your+financial+life