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Any advice would be helpful?
Depends on the card, some issuers never close due to inactivity. A safe guideline is once each quarter, every four months. Some people do every six months.
To me, once a year would be adequate. I've never had any card closed due to inactivity. My Discover was inactive for 5 years. But I did get the Welle Fargo card close my only card at the peak of the 2008 financial crisis.
Here's the cards I have by the way. Newegg Card $1200| Amazon Card $200| Walmart Card $400
Most data points say that the conservative institutions want to see 3-5 dollars, every 3-4 months. Many institutions are happy with every 6-9 months, and some people have reported 10 years, no spend and a card not closed. To be "Safe" a little spend every 3-4 months should keep the card alive. A second consideration for some, is that small spend can lead to a reduced credit limits.
Why do you have them if you're not gonna use them? Just curious
@Anonymous wrote:Why do you have them if you're not gonna use them? Just curious
Most of them do get used ImaPirate. The only reason I still have that particular FNBO card is the hopes that the cl can be moved to the more useful FNBO card I obtained later.
Some CC's lenders will offer you candy to use their cards. Especially around this time of the year.
I've gotten so many offers to use some of these lenders this year..it made my head spin! Lol
I'm talking promotional rates to spend bonuses to REAL pre-approved personal loans. If I didn't have their cards or bank accounts with them. I'd never see or have those choices, whether I used them or not. As the saying goes, it's better to have and not need than need and not have.
The quickest closure for inactivity I've heard of is Barclaycard sometimes closing no-AF cards after six months of inactivity.
It's also good to occasionally ask whether a card is really worth keeping.
@Kforce wrote:Most data points say that the conservative institutions want to see 3-5 dollars, every 3-4 months. Many institutions are happy with every 6-9 months, and some people have reported 10 years, no spend and a card not closed. To be "Safe" a little spend every 3-4 months should keep the card alive. A second consideration for some, is that small spend can lead to a reduced credit limits.
Links? I've never heard that $3 would be good while $1 would be insufficient.