CHASE is CLOSING my Credit Card for lack of use

[LacyLiz]

Can Chase close my credit card or reduce my credit limit because I havent used it in two years?  I have a zero balance and my Credit Karma scores are 802 Trans Union and 806 Equifax.  I do have two other Chase Credit Cards that I pay 100% each month, but the one they want to close is my largest credit available at $7000 which I would use in case of an emergency.  They state in their letter that I can call them to reevaluate my options but I am waiting on an $1,867 credit to show up on my credit report before I call them.  I have two months before the card expires.  They say using the card will not stop it from closing either.  Will the closing of the card lower my credit score when it was their choice and not mine.  I have heard that closing old unused accounts can actually help but I want this card.  I do not keep balances on any card unless its a zero interest offer over time and then its paid off before the offer expires.  Please advise!! 

[Anonymous]

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@LacyLiz wrote:

Can Chase close my credit card or reduce my credit limit because I havent used it in two years?  I have a zero balance and my Credit Karma scores are 802 Trans Union and 806 Equifax.  I do have two other Chase Credit Cards that I pay 100% each month, but the one they want to close is my largest credit available at $7000 which I would use in case of an emergency.  They state in their letter that I can call them to reevaluate my options but I am waiting on an $1,867 credit to show up on my credit report before I call them.  I have two months before the card expires.  They say using the card will not stop it from closing either.  Will the closing of the card lower my credit score when it was their choice and not mine.  I have heard that closing old unused accounts can actually help but I want this card.  I do not keep balances on any card unless its a zero interest offer over time and then its paid off before the offer expires.  Please advise!! 

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They certainly can  close the card or reduce your limit for just about any reason.  If it does get closed it will not hurt your credit score unless it dramatically affects your utilization.  What you need to do is call them and discuss the situation.  Don't wait, do it now.

Edit to add - to prevent this from happening with any credit card you need to show some periodic use.  The easiest way is to set it to charge some small monthly bill and then set up autopay.

[Anonymous]

why is the credit showing up preventing you from calling them?

[JustinS]

I'd call them and discuss it. Typically any lender can and usually will close unused accounts if it's been quite awhile. In your case 2 years definitely qualifies as quite awhile. Typically if you want to have an account remain you'd need to use it at least once every year (some even suggest every 6 months) and just PIF right away so there is activity. Showing activity doesn't mean you need to leave a balance report on your credit reports either (DOLA is usually tracked as well plus your lender will see the activity on their end they don't need your reports to tell them you are using the account).

Keep in mind if you just let it go and they close it the account still reports for roughly 10 years on your credit reports/file. It should not just disappear/go away. It will however decrease your available credit by the limit of the TL closed.

[SpiceIslander]

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@LacyLiz wrote:

Can Chase close my credit card or reduce my credit limit because I havent used it in two years?  I have a zero balance and my Credit Karma scores are 802 Trans Union and 806 Equifax.  I do have two other Chase Credit Cards that I pay 100% each month, but the one they want to close is my largest credit available at $7000 which I would use in case of an emergency.  They state in their letter that I can call them to reevaluate my options but I am waiting on an $1,867 credit to show up on my credit report before I call them.  I have two months before the card expires.  They say using the card will not stop it from closing either.  Will the closing of the card lower my credit score when it was their choice and not mine.  I have heard that closing old unused accounts can actually help but I want this card.  I do not keep balances on any card unless its a zero interest offer over time and then its paid off before the offer expires.  Please advise!! 

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Sure, they can close the card. You've demonstrated that you don't need the CL by not using the card. Why not give it a few swipes now and then? You don't have to increase your spending, just spread it among all your cards.

You score may or may not suffer if they close it. It would depend on your utilization %. Whether or not it's closed by the grantor does not affect your FICO score.

[SayHey]

When you call, if they will not reconsider keeping the card open, you may want to ask if they can simply transfer your limit to another one of the Chase cards you mention.  At least you would still have your emergency cushion. 

[Anonymous]

If you want the card, you would have used it quarterly at least.

[Anonymous]

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@SayHey wrote:

When you call, if they will not reconsider keeping the card open, you may want to ask if they can simply transfer your limit to another one of the Chase cards you mention.  At least you would still have your emergency cushion. 

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exactly, I've had experience with this and chase is pretty easy to deal with. If i recall I did it all via SM cause 2015.

I can understand OP wanting to wait because i believe its a HP XP, but i'm not 100% because I can't pull my report a few more months

[Callandra]

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@SayHey wrote:

When you call, if they will not reconsider keeping the card open, you may want to ask if they can simply transfer your limit to another one of the Chase cards you mention.  At least you would still have your emergency cushion. 

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I agree -- it seems that you don't really need the card anyway (if you did, you would've used it in the past two years!). I suggest calling asking to move the limit to one of the other Chase cards you do have and use (or split it between the Chase cards you use). That way you will still have the same amount of available credit but one less card to bother with.

[onstar]

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@Anonymous wrote:

Edit to add - to prevent this from happening with any credit card you need to show some periodic use.  The easiest way is to set it to charge some small monthly bill and then set up autopay.

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Or annual?

My AAA Visa card is used to pay the annual AAA fees only.

My Amazon Visa card is used to pay the annual Prime fees only.

Maybe I should make it a habit of using ALL my cards for a $10 purchase every 6 months.