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How often do I need to use my sock drawer cards??

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Anonymous
Not applicable
‎09-03-2016 08:35 PM
‎09-03-2016 08:35 PM

Re: How often do I need to use my sock drawer cards??

I'm not sure but I haven't used my Care Credit in 7 months and used it today to buy some candy at Rite Aid. I don't want to risk getting it closed because I plan on using it for my deductibles at the dentist. Since most people don't go to the dentist every month it won't get much usage but I do need it. Thinking about a tummy tuck too but that will probably be in another two years lol.
Message 21 of 40
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Anonymous
Not applicable
‎09-03-2016 10:33 PM
‎09-03-2016 10:33 PM

Re: How often do I need to use my sock drawer cards??

@Anonymous wrote:
I'm not sure but I haven't used my Care Credit in 7 months and used it today to buy some candy at Rite Aid. I don't want to risk getting it closed because I plan on using it for my deductibles at the dentist. Since most people don't go to the dentist every month it won't get much usage but I do need it. Thinking about a tummy tuck too but that will probably be in another two years lol.

You can use it to buy candy at Rite Aid? Smiley Surprised I figured it could only be used for perscriptions or something like that. Pretty cool!

Message 22 of 40
Anonymous
Not applicable
‎09-07-2016 05:02 AM
‎09-07-2016 05:02 AM

Re: How often do I need to use my sock drawer cards??

Yup, Rite Aid is one of the few "normal" stores (non-medical related) that takes Care Credit.

Message 23 of 40
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nachoslibres
Established Contributor
‎09-07-2016 06:15 AM
‎09-07-2016 06:15 AM

Re: How often do I need to use my sock drawer cards??

I have two cards that are essentially SD'd - and I have a monthly charge at the post office for mailing a package at the first of the month.  I personally just use one of those cards for that charge one month and then the other card the next month.  I usually go ahead and pay them off right away as well - and I'm hoping this will be enough (and after seeing the posts in this thread it looks like it will) to keep these cards open.

Message 24 of 40
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Mattopotamus
Frequent Contributor
‎09-07-2016 06:22 AM
‎09-07-2016 06:22 AM

Re: How often do I need to use my sock drawer cards??

My very first card, wells fargo, has been sitting in the SD since 2007 with no use and is still open.

Message 25 of 40
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Anonymous
Not applicable
‎09-07-2016 07:24 AM
‎09-07-2016 07:24 AM

Re: How often do I need to use my sock drawer cards??

Really helpful thread. Here I was thinking I had to use them at least every 3 months in order to be safe!

 

For those saying that if you have to force yoruself to use a card, then you don't need it...when you only have 3 cards total and AAoA is under 2 years you definitely need it! My oldest card is at 2 years, 7 months and it has no rewards whatsoever. CL is $750 and I can't increase that without HP. But you can bet your boots I don't want it closed on me! My score needs it.

 

My routine has been to place menial bills on my sock drawer cards. My $5/month wireless internet goes on my BECU card, my $20 every 90 days phone bill goes on my REI card, and the rest of spending (aside from REI purchases) goes on my Amex card.

 

Currently Amex is the only one really useful to me for its rewards, but I got the first two before I knew much about credit so they're what I have to work with for now.

 

 

 

 

Message 26 of 40
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longtimelurker
Epic Contributor
‎09-07-2016 07:41 AM
‎09-07-2016 07:41 AM

Re: How often do I need to use my sock drawer cards??

@Anonymous wrote:

Really helpful thread. Here I was thinking I had to use them at least every 3 months in order to be safe!

 

For those saying that if you have to force yoruself to use a card, then you don't need it...when you only have 3 cards total and AAoA is under 2 years you definitely need it! My oldest card is at 2 years, 7 months and it has no rewards whatsoever. CL is $750 and I can't increase that without HP. But you can bet your boots I don't want it closed on me! My score needs it.

 

My routine has been to place menial bills on my sock drawer cards. My $5/month wireless internet goes on my BECU card, my $20 every 90 days phone bill goes on my REI card, and the rest of spending (aside from REI purchases) goes on my Amex card.

 

Currently Amex is the only one really useful to me for its rewards, but I got the first two before I knew much about credit so they're what I have to work with for now.

 

 

 

 

If they close, they won't impact AAoA, and you can control utilization by paying before reporting, so you really don't "Definitely need it"  But up to you

Message 27 of 40
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barthooper
Frequent Contributor
‎09-07-2016 07:48 AM
‎09-07-2016 07:48 AM

Re: How often do I need to use my sock drawer cards??

My Barclay Rewards got a raw deal. It only got to be top dog for about 4 months and then I got Sallie Mae so it was relegated to paying phone and internet only. Then last fall I got Discover so my first year of that was/is 2% which matches the Barclay Rewards, so I figured it would be better to increase Discover's usage to show them love to earn CLIs. I paid internet with it once in the past ~8 months just to keep it active.

 

Probably will get Citi DC later this fall so Barclay Rewards will be indefinitely useless. I may just roll it into my Sallie Mae which would bring the latter slightly above 10k. Definitely won't miss the Barclay Rewards $1500 limit as part of my util.

 

 

Edit: Duh, I wouldn't lose the $1500. Not sure why I wrote that. Not terribly concerned about the impact to account age.

Quicksilver - 16k | Discover It - 34k | Citi DC - $21k | Chase Amazon - 8k | Chase Reserve - 19.5k | Chase Preferred - 5k | EX FICO (Discover CSC) 788
Message 28 of 40
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Anonymous
Not applicable
‎09-07-2016 08:00 AM
‎09-07-2016 08:00 AM

Re: How often do I need to use my sock drawer cards??

@longtimelurker wrote:
@Anonymous wrote:

Really helpful thread. Here I was thinking I had to use them at least every 3 months in order to be safe!

 

For those saying that if you have to force yoruself to use a card, then you don't need it...when you only have 3 cards total and AAoA is under 2 years you definitely need it! My oldest card is at 2 years, 7 months and it has no rewards whatsoever. CL is $750 and I can't increase that without HP. But you can bet your boots I don't want it closed on me! My score needs it.

 

My routine has been to place menial bills on my sock drawer cards. My $5/month wireless internet goes on my BECU card, my $20 every 90 days phone bill goes on my REI card, and the rest of spending (aside from REI purchases) goes on my Amex card.

 

Currently Amex is the only one really useful to me for its rewards, but I got the first two before I knew much about credit so they're what I have to work with for now.

 

 

 

 

If they close, they won't impact AAoA, and you can control utilization by paying before reporting, so you really don't "Definitely need it"  But up to you

Closing them would imact AAoA because would mean taking a lot longer to increase my current AAoA. By keeping them open my AAoA increases as fast as it possibly can and develops a more robust AAoA foundation.

 

I already control utilization before reporting, thanks. My point on mentioning the CL was just to point out how useless a card it was to me.

Message 29 of 40
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dragontears
Senior Contributor
‎09-07-2016 08:06 AM
‎09-07-2016 08:06 AM

Re: How often do I need to use my sock drawer cards??

I think you are confusing AAOA (average age of accounts, which FICO score models use) and AAOOA (average age of open accounts which models like vantage uses). Closed accounts are still used in AAOA calculations
Message 30 of 40
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