Keep or close unused credit card account?

alitb

I have a Capital One credit card I no longer require (I have an alternative one). In terms of credit scoring am I better off leaving it open with a zero balance or just closing the account, or does it not matter either way?

Thanks

Experian_company_representative

Hi alitb

alitb wrote: »

I have a Capital One credit card I no longer require (I have an alternative one). In terms of credit scoring am I better off leaving it open with a zero balance or just closing the account, or does it not matter either way?

Thanks

That is a good question, the older the account becomes now that the balance has been paid could have a positive impact to your credit report/score, whilst keeping cards you don’t use open also may be a fraud risk.

You may find this page useful as it explains further how leaving accounts open can affect your credit score/report.

Regards
James Jarvis

Drunk_Monkey

Experian_company_representative wrote: »

Hi alitb

That is a good question, the older the account becomes now that the balance has been paid could have a positive impact to your credit report/score, whilst keeping cards you don’t use open also may be a fraud risk.

You may find this page useful as it explains further how leaving accounts open can affect your credit score/report.

Regards
James Jarvis

Hi James,

Do you have any advise on how to prevent credit card fraud?
Are there certain things I ought to watch out for?
Just concerned.

thanks

Experian_company_representative

Hi Drunk Monkey

Drunk_Monkey wrote: »

Hi James,

Do you have any advise on how to prevent credit card fraud?
Are there certain things I ought to watch out for?
Just concerned.

thanks

You can find useful information as part of this thread - https://forums.moneysavingexpert.com/discussion/5215464

You may also find this page helpful, I hope this helps

Regards
James Jarvis