We regularly get letters from people who are upset that their bank “unilaterally” closed a credit account they hadn’t used in years. They’re always quite surprised that the bank can do this, and usually want to get their accounts back. Unfortunately, that’s not how it works. You really do have to use your account occasionally to keep the bank from closing it.
Reader Kevin is upset with WaMu because they closed his credit card due to inactivity. Had he known they were going to do this, he says he would have been happy to pay a small fee to keep it open, etc. The card is the oldest one on his credit report — and closing it has affected his FICO score.