Should I close an unused AWS account or let it become restricted?

Some people value keeping an older account in good standing because newer accounts can have stricter service and quota limitations. That only makes sense if you expect to use it again. For an account you are finished with, keeping an expired payment method attached is unnecessary risk.

If you genuinely do not need the account, close it yourself. That avoids the risk of an overlooked resource starting to incur charges later, and it is usually a quick process. Even a supposedly inactive account can contain something that gets billed unexpectedly.

You can keep an older account at zero cost if you still have a reason to retain it, such as stored project data or an established account history. In that case, secure it carefully, remove unnecessary resources, enable billing alerts, and use budgets or limits where available. A hard five-dollar cap is not something to assume exists automatically, so alerts are important.

Before closing it, check every region and service for running resources, backups, storage, reservations, and saved data. Also review billing and access settings. If there is anything you may need later, export it first; otherwise formal closure is less hassle than waiting for an automatic restriction.