Source
r/PersonalFinanceCanada•
Jon1764

Closing an abandoned FutureShop Mastercard?

Credit

Back in 2008 I opened a FS Mastercard to pay off a laptop month-to-month, but after 3 months I decided to pay it all off and stop using that card. I do not have any records of having opened that card and I have since cut up the card and gotten rid of it.

I recently signed up for CreditKarma, and on my credit report it states that I currently have an open credit card from HSBC Retail Services. I did a bit of research and it turns out they are the current holder of the FS account portfolio which apparently had been sold to them from Desjardins.

Is there any way I can get this account closed? I've contacted Desjardins and they do not have any record of having an account under my name or with my SIN, and I get the same response from HSBC Retail Services as well. I told them that it is an old card from Future Shop and they said that an account that old and unused for a long time would either not have been included in their portfolio or would have been closed, but it still appears as Open in my CR under HSBC Retail Services.

Posted Feb 16, 2018, 1:31 AM UTC

1313
Gongshowdmac•

I have the same sortof thing on my credit report. I just leave it alone knowing that I wont use it or have the chance to use it. Its only helping your credit by being an older account. I would just leave it there.

6
Tilter•

+1 OP

If you close it, you lose the good credit history and your score will drop.

2
Jon1764OP•

The limit on that card is only $1000, and has only 3 months of payments on it. It is my second oldest card by 2 years.

1
Tilter•

I believe the value in the credit history is the length. And not the limit nor the number of on time payments.

Due to the inactivity, HSBC may one day decide to close the account themselves which will cause a drop in your credit score too.

3
elimi•

Depends, if it's a low amount sure. But if it's bigger it's possible that it will affect how someone's sees your credit. Let's say it's only a 1k card and you make 60k a year no biggy even if you decide to load it. But if it's a 10k+ limit... The bank might not appreciate the possibility that you'd just load it. Or if you happen to have a few of those around and they total a big amount.. Even if they never got used what garanties does a lender have that you won't use them the day after you get your new loan or w/e.

1
Gongshowdmac•

My limit is only 700 and its only one card. The bank im sure isnt worried about it. Neither am I.

1
[deleted]•

[deleted]

1
angelus97•

This is the same for me. I just ignore it.

1
recurrence•

I have a similar card that I had actually closed 10 years ago but is still reporting from BMO. Nobody can locate this account yet it still reports every month to TransUnion. It is buffing my credit score a bit so I'm cool with it :)

1
jbjbjb55555•

If you have 0 balance. It will just expire in its own. No need to do anything.

0†
angelus97•

I've had a 0 balance for >15 years. It has not "expired".

1
jbjbjb55555•

I've never heard of a credit card that's never expired after 5 years. 15 years is way too long. I don't think that card even works. YOu can probably pay your balance but you can't use that card. Why don't you call FS and have them close it.

1
angelus97•

Of course it doesn't work, and what do you mean call and have them close it? Did you forget the reason this thread was started in the first place?

1
Jon1764OP•

No, It has had 0 balance for 9 years, it's still open on my CR.

1