Can A Bank Cancel My Credit Card If I Don't Use It?

What Happens If You Do Not Use The Card For A Long Period?

Many different things may impact your bank account. Your credit history and credit score are the two most important things. If you have a credit card with a high limit, the bank will think before it evens consider the possibility of to canceling your credit card. However, there are different factors that will impact the decision of the bank to close your credit card. If you have a good credit history, the bank will struggle with the decision to close your credit card. You will have good credit history if you always pay back the money on time.

Your credit score is another important feature of the banking process. The credit score is not for the credit card itself or the bank account but for the person who uses it. You want to have a high credit score. Also, there are different ways to improve it. If you have a high credit score, you should not worry that your credit card will be canceled.

Good things that improve the credit score is the utilization of the credit card. If you have two different credit cards, it is better. It shows the bank that you are more than capable to deal with more credit cards. The bank accountants will understand that you are good with finances. Also, if you pay back the money on time, the bank will be more than happy to increase your money limit.

If you do not use the credit card for a long period, this will influence your credit score greatly. To improve your bad credit, you have to go get another card. It will show the bank that you are interested in having a credit card.

Questions and Answers

To the question "can a bank cancel my credit card, if I don't use it," the answer is "Yes." However, each bank decides how long to wait until they cancel the credit card. For some banks this period is about six months but in most cases it is about a year. Banks are interested in active credit cards because this is profitable for them. Because of the usage of credit cards, banks make money.

In some cases, you are the one who wants to cancel the credit card. This will not influence your credit score and credit history as much because you made the decision to close the account. Having the bank close your account is bad. If you are not planning to use the credit anymore, then you should get rid of it. When you are again ready to start using it, go to the nearest bank and open a new bank account with a new credit card.

If you have a bad credit history -- overspending, late payments, etc -- this will greatly influence your new credit cards. This credit history will stay at the bank for at least 7-8 years, for some other banks it is even longer period. That way the bank is able to recognize any past bad clients of the bank. Because of that, if the bank gives you another credit card, it will only give you small money limit. You just cannot outrun your past.

If you are planning to close your bank account, the first thing that you must do is to pay back the money that you owe. If you close the account without paying the money, this will greatly influence future credit cards.

Keep Up The Good Work

If you are a reliable person, then you should not worry about getting your card canceled. Just make sure that you use your card from time to time. If you do not want owe the bank a huge pile of money, buy something smaller like gum, candy, etc. That way when you decide to pay back the money, you will only have to return the bank a small amount of money. Also, this will keep your credit card open and when you need it you will be able to use it.