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Valued Member
mondo84
Posts: 29
Registered: ‎05-10-2011
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Chase wants to close my Amazon Visa for inactivity (updated)

[ Edited ]

UPDATE - I made a mistake. This is my Amazon Visa, not Freedom Visa. This makes things much worse - my Amazon Visa is my second oldest account.

 

-----------------------------------

 

Hi all,

 

Received a letter today (Aug. 17) dated Aug. 12 that Chase plans to close my Freedom Visa Amazon Visa "within the next two months" because it hasn't been used within the past two years. I didn't realize I had gone this long without using the card. I ABSOLUTELY want and NEED to keep it open.

 

They say I can call for them to review my account. Using the card will not prevent closure.

 

I don't know my current FICO score. Credit Karma Transunion (FAKO?) is 765. My credit history is rock solid - always pay in full on time, no delinquincies or anything like that. Only one inquiry on my credit report according to CK (and matching what my last Experian says). Currently a total of 9 open accounts including the Amazon card. Closed a Chase Southwest Visa last August after one year, but other than that haven't closed any cards.

 

I certainly want to keep the Amazon Visa open for various reasons (my average age will take a huge hit), and I would use the card in the future. The reason I hadn't been using the card was that I had bought gift cards on Amazon with it, and I infrequently shop there so I hadn't eaten my GC balance yet to start using the Amazon card again, and I have been using 2-3 other primary credit cards.

 

My question is, what can I do to maximize my chance of keeping the account open? If their concern is inactivity, I don't know what else I can say other than telling them I will use the card. Would they offer to keep it open only if they reduce my line of credit? Would that hurt my credit score in any way other than impacting % utilization? (which is quite low anyway due to having a large overall limit).

 

Any advice or tips are appreciated. If you need more info from me to help give advice let me know and I'll do my best to respond. Thanks for reading.

Super Contributor
enharu
Posts: 7,008
Registered: ‎02-27-2013
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Re: Chase wants to close my Freedom card for inactivity


mondo84 wrote:

Hi all,

 

Received a letter today (Aug. 17) dated Aug. 12 that Chase plans to close my Freedom Visa "within the next two months" because it hasn't been used within the past two years. I didn't realize I had gone this long without using the card. I want to keep it open.

 

They say I can call for them to review my account. Using the card will not prevent closure.

 

I don't know my current FICO score. Credit Karma Transunion (FAKO?) is 765. My credit history is rock solid - always pay in full on time, no delinquincies or anything like that. Only one inquiry on my credit report according to CK (and matching what my last Experian says). Currently a total of 9 open accounts including the Freedom card. Closed a Chase Southwest Visa last August after one year, but other than that haven't closed any cards.

 

I certainly want to keep the Freedom Visa open for various reasons, and I would use the card in the future. It was an oversight to not use the Freedom card for so long.

 

My question is, what can I do to maximize my chance of keeping the account open? shouldn't be too hard to convince them to keep it open. Only way to know is to call them. If their concern is inactivity, I don't know what else I can say other than telling them I will use the card. you could maybe come up with a convincing story about why you didn't use the card. Other than that, just emphasize on the fact you will be using it. Would they offer to keep it open only if they reduce my line of credit? depends. Would that hurt my credit score in any way other than impacting % utilization? no, account will continue to report for 10 years after closure. (which is quite low anyway due to having a large overall limit).

 

Any advice or tips are appreciated. If you need more info from me to help give advice let me know and I'll do my best to respond. Thanks for reading.


answered in red above.

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09Lexie
Posts: 26,027
Registered: ‎09-13-2012
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Re: Chase wants to close my Freedom card for inactivity

Give them a call if you wish to keep it open. They may want to update your information. In the meantime, you might want to set up a reoccurring charge like a subscription or insurance bill so this situation won't reoccur.
Valued Member
mondo84
Posts: 29
Registered: ‎05-10-2011
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Re: Chase wants to close my Freedom card for inactivity

[ Edited ]

Thanks for the quick responses.

 

In fact I made a mistake - this is not my Freedom Visa, it's my Amazon Visa. I mixed up the numbers. I will try to update the OP.

 

The only reason I haven't used my Amazon Visa is that I have had a gift card balance on my Amazon account for some time (in fact I used my Amazon Visa to buy those), and since I don't shop at Amazon too frequently I hadn't eaten up my GC balance yet.

 

I hope they understand. Now that I realize this is my Amazon Visa, closing this account WILL hurt my credit - it's 7 years old and my second oldest card.

 

Now I'm really worried realizing it's this card and not the Freedom one. :smileysad:

Super Contributor
longtimelurker
Posts: 7,327
Registered: ‎04-22-2013
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Re: Chase wants to close my Freedom card for inactivity


mondo84 wrote:

Thanks for the quick responses.

 

In fact I made a mistake - this is not my Freedom Visa, it's my Amazon Visa. I mixed up the numbers. I will try to update the OP.

 

The only reason I haven't used my Amazon Visa is that I have had a gift card balance on my Amazon account for some time (in fact I used my Amazon Visa to buy those), and since I don't shop at Amazon too frequently I hadn't eaten up my GC balance yet.

 

I hope they understand. Now that I realize this is my Amazon Visa, closing this account WILL hurt my credit - it's 7 years old and my second oldest card.

 

Now I'm really worried realizing it's this card and not the Freedom one. :smileysad:


As said above, it will continue to report for about 10 years, so probably won't hurt your credit, unless you have a balance and a major part of your credit limit is on this card.   That card isn't all that great (there are cards which give 5% on Amazon) so losing it won't be that terrible.   But if you want it, see if promising to use it will help, it does have 2% on drug stores I think, so that's a possible place to use it if you don't have a better card for that.

CSP, Freedom, Chase Amazon, Cap One QS (x2), Penfed Plat Rewards (x2), Citi Double Cash, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus, Fid Amex, NASA Plat Cash
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Valued Contributor
FinStar
Posts: 6,108
Registered: ‎10-21-2012
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Re: Chase wants to close my Freedom card for inactivity


mondo84 wrote:

Thanks for the quick responses.

 

In fact I made a mistake - this is not my Freedom Visa, it's my Amazon Visa. I mixed up the numbers. I will try to update the OP.

 

The only reason I haven't used my Amazon Visa is that I have had a gift card balance on my Amazon account for some time (in fact I used my Amazon Visa to buy those), and since I don't shop at Amazon too frequently I hadn't eaten up my GC balance yet.

 

I hope they understand. Now that I realize this is my Amazon Visa, closing this account WILL hurt my credit - it's 7 years old and my second oldest card.

 

Now I'm really worried realizing it's this card and not the Freedom one. :smileysad:


You can still employ the same method for recurring charges as Lexie mentioned above.  There are options in this case: call them so they can review your account if you intend to keep it open.  Or, if closure is imminent and you don't foresee any use for some time, then consolidate the CL to your Freedom CC.  As enharu pointed out, even with the account closed, its history is still reported generally for about 10 years form the "date closed" (or sometimes longer) on your CRs.

Valued Member
mondo84
Posts: 29
Registered: ‎05-10-2011
0

Re: Chase wants to close my Freedom card for inactivity


longtimelurker wrote:

As said above, it will continue to report for about 10 years, so probably won't hurt your credit, unless you have a balance and a major part of your credit limit is on this card.   That card isn't all that great (there are cards which give 5% on Amazon) so losing it won't be that terrible.   But if you want it, see if promising to use it will help, it does have 2% on drug stores I think, so that's a possible place to use it if you don't have a better card for that.


I do want to keep the card, as I can envision myself using it in the future. I regret deeply I haven't used it these past two years. I had been using a Cap One card for 2% at drugstores. I'd rather use the Amazon one since the rewards can be used at Amazon with ease regardless of points value.

 

But even with reporting for 10 years, for various reasons I really want to keep the card. It's the only one I haven't used in the past year or two and I'm kicking myself for neglecting it.

Valued Member
mondo84
Posts: 29
Registered: ‎05-10-2011
0

Re: Chase wants to close my Freedom card for inactivity

[ Edited ]

FinStar wrote:

You can still employ the same method for recurring charges as Lexie mentioned above.  There are options in this case: call them so they can review your account if you intend to keep it open.  Or, if closure is imminent and you don't foresee any use for some time, then consolidate the CL to your Freedom CC.  As enharu pointed out, even with the account closed, its history is still reported generally for about 10 years form the "date closed" (or sometimes longer) on your CRs.


Yes, that's an option. But I can easily use this card at drugstores and for other small purchases every month or two.

 

This was my primary card for a few years, then when I opened more the use dwindled. It was a mistake on my part and I hope Chase will keep the account open.

 

I'm just not sure what to say to them if they say, "No." I don't think it's a good idea to say I had been using other cards for primary transactions, even though it's obvious.

 

I can't seem to think of good justifications for not using the card that Chase will understand and say, "Sure, we'll keep the account open if you'll use it."

 

Thanks for the continued replies.

Valued Member
mondo84
Posts: 29
Registered: ‎05-10-2011
0

Re: Chase wants to close my Freedom card for inactivity


09Lexie wrote:
Give them a call if you wish to keep it open. They may want to update your information. In the meantime, you might want to set up a reoccurring charge like a subscription or insurance bill so this situation won't reoccur.

That's also a good idea. I think I can use the card every couple months at drugstores at the very least.

 

What kind of information do you guys think Chase might want to update?

Valued Contributor
FinStar
Posts: 6,108
Registered: ‎10-21-2012
0

Re: Chase wants to close my Freedom card for inactivity


mondo84 wrote:

09Lexie wrote:
Give them a call if you wish to keep it open. They may want to update your information. In the meantime, you might want to set up a reoccurring charge like a subscription or insurance bill so this situation won't reoccur.

That's also a good idea. I think I can use the card every couple months at drugstores at the very least.

 

What kind of information do you guys think Chase might want to update?


Hard to tell unless you call them.  Anywhere from income information, employment, etc., but this is just speculative.  Call Chase to find out.


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