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CC provider (Capital One) written to me closing my card due to lack of use - credit score impact?
d2446679
Posts: 41 Forumite
in Credit cards
Hi, I have had a letter today from Capital One saying that they are closing my credit card (which I've held in good standing for many years) in 2 months time due to lack of usage. I haven't used the card for a long time as I have since taken out other cards with a better 'offer' (reward points etc) but I left it open with a 0 balance 'just in case'.
Is there likely to be any impact on my credit score from the provider having closed the account, rather than close it myself? (As mentioned above it isn't due to defaulting on payments etc, just I assume they don't want me as a customer any more as I'm not making them any money!)
Thanks in advance!
Is there likely to be any impact on my credit score from the provider having closed the account, rather than close it myself? (As mentioned above it isn't due to defaulting on payments etc, just I assume they don't want me as a customer any more as I'm not making them any money!)
Thanks in advance!
0
Comments
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No. Closed is closed.
Your score will probably drop but then again it doesn’t matter since lenders don’t care about it.
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Your credit file shouldn't show who closed it so there will be no impact to your history.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
You don't have to be the best -
Just be better than you were yesterday.0 -
If you've credit cards elsewhere run well it shouldn't have a deleterious effect on your creditworthiness.
Don't worry if the "score" some companies show you drops, this number isn't seen by lenders, it's for your amusement only.0
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