If there has not been any activity on your credit card for a period of time – usually at least a year – some credit card issuers will charge you a fee for maintaining an inactive account, or may even close your account. If you no longer need your credit card, make sure you contact your card issuer to cancel it and keep a record of the cancellation.
Simply cutting up your card does not automatically cancel it, even if your credit card has expired.
You may still have to pay an inactivity fee, since you did not cancel the card.
This excerpt was taken from the publication called "Understanding Credit Card Fees" by the Financial Consumer Agency of Canada.
You can find more information at the Financial Consumer Agency of Canada site at http://www.fcac-acfc.gc.ca/eng/index-eng.asp.
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