Originally Posted by
enajenkins
Thank You Guys!!!! I have been trying to figure out what I should do about these accounts for the longest! I really feel more informed.
Ena :)
if your credit cards haven't been used say for over 6 months to a year, most companys will label them inactive. To reopen the accounts you'd have to apply again. To be sure, send a letter to the companies in question and find out what their policy is. Also let them know you haven't been using them for a while. They can flag or de-activate the cards and keep them from being used by anyone else. Also as a rule of thumb, it's a good idea to keep a major credit card like visa for emergencies. Ex. Sickness car trouble and or home repair like a repapir man coming out to the house or condo. Ask the credit card companies to alert you for transactions on an unsued card. This way you can protect yourself about credit card fraud.
If you do cancel the cards, it will be a slight hit to your credit. But when you do cancel(or if) send letters to the 3 major credit bearuroes explaining why you cancelled. This will appear on your credit report for prospective lenders to see.