What negative affects, if any will a cancelled credit card have on my credit history?

Question

My credit card account was recently cancelled by the credit card company due to lack of activity (I haven't used the card since 2005). I was a great customer. I never over-spent my credit line and always paid my balance on time and in full. When I received the notice informing me of the cancellation I called the cc company to resolve the issue. The reps I spoke to refused to reactivate my account or open a new one for me even though they erred and cancelled my account 4 days sooner than the proposed cancellation date noted on the statement. I don't really care about the account and stopped using the card due to the low credit line (I've been using a different cc). Still, I'm concerned this cancellation will leave a blemish on my credit history. If this is so how can I mend the structure of my credit history?

It was a VISA card from a small, lesser-known bank and the credit line was $5,500.00. I've had the card for 6 1/2 years if that helps.

Answer 1

If the card is already cancelled, then there's not much you can do. If you reopen the card, it will show as a new card and will hurt your score more than just letting it go since it's already gone. The negative side effects is that you will appear to be using more of your available credit overall since you now have less overall credit. If your card didn't have a large limit, then it won't effect much. Your average length of credit will be shortened slightly since the account, but it's not that you just opened and immediately closed it, so you won't be too bad off.

Answer 2

Is one of your cc a Citi credit card? If so, buy the Identity Monitor program or atleast try it free for 30 days, that should be enough time to do what you need to do.

It has a credit analyzer that will tell you exactly what and where and when and everything about how your credit is what it is and what it will do if you do something

OK that sounded more complicated then I meant it to be, but lets just say it will help you figure out what you want to know.

Cancel in the free trial if you dont want to pay for it.