BestBuy.Com

[temp14]

I closed my Best Buy store card last year. I received a letter confirming that my account was closed, as well. But I noticed that I'm still able to sign in on the online HSBC Best Buy online site. It hasn't deactived or anything. And it's just there. My balance is at $0, and there's isn't any activity going on in the account. But I would like to know if I should be concerned that I AM still able to sign on. Plus, my credit limit is still showing that I HAVE a credit limit.

[Bob_A · Accepted solution]

temp14 - 

I suggest that you check a current copy of your Credit Report. If its reference to your Best Buy HSBC Credit Card account doesn't actually include the word "Closed". Then the account is actually still open. If the account is still open, then its existence will automatically be taken into consideration in computing your Credit Score.  

Good Luck  

[ncoclub]

The problem with closing credit card accounts is that it actually HURTS your credit score...has something to do with your credit to debit ratio..look into this before closing out your account.

[bajarider]

Thanks NCO

I never knew that. I was thinking of canceling 2 CC's but maybe just paying them off and keeping them at a zero balance would be better for my credit score.

[DanK Best Buy Employee]

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bajarider wrote:

Thanks NCO

I never knew that. I was thinking of canceling 2 CC's but maybe just paying them off and keeping them at a zero balance would be better for my credit score.

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Yes, it would be beneficial to leave them open, as it would lower your percentage of available credit used.

As for the HSBC card, I do believe it automatically closes after a period of non-use. It may be 6 months, but I'm not sure on that.

[ncoclub]

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bajarider wrote:

Thanks NCO

I never knew that. I was thinking of canceling 2 CC's but maybe just paying them off and keeping them at a zero balance would be better for my credit score.

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Unfortunately there is a problem with that as well. Credit Card companies are now closing accounts that don't have any activity on  them. I "rotate" my cards every couple of months, make a few small purchases and then pay them off. I learned this stuff off the web...can't take any personal credit for it!!!