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Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
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How often should I use each card to keep them from closing?

 

  After July 2010, I plan to relocate for school and won't be using no more than one card.  Do I risk my cards being closed without using them for a year and a half?

 

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Registered: ‎08-09-2008
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Re: How often should I use each card to keep them from closing?


DI wrote:

 

  After July 2010, I plan to relocate for school and won't be using no more than one card.  Do I risk my cards being closed without using them for a year and a half?

 

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Bank of America World Points

Capital One Platinum Rewards

Citi Platinum Select

Discover More Cashback

GM HSBC

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Sears Store Card

State Farm Cash Rewards

Target Visa

 


A year and a half of zero use, and I'd say that even the most secure, patient, and flexible lender would close the account. You might want to spread your usage around, and set up some recurring bills that you PIF on those cards. Even if you have to rotate it a bit.

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Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
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Re: How often should I use each card to keep them from closing?

I have the exact same concern... I have some cards that I really want to keep but I do not use them really pften as I just opened some new ones with better rewards... Do you think a monthly insurance bill on 1 Citi and a cell phone bill on another Amex will keep them utilized enough in order not to get the CL cut?
Senior Contributor
Posts: 4,214
Registered: ‎09-12-2008
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Re: How often should I use each card to keep them from closing?

Yes, you would lose many of your accounts.

 

The best way to avoid this is to choose a small recurring bill for each major.  Then set that major up on auto pay draft to PIF each statement.  Then you don't have to worry about use.

 

 

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Re: How often should I use each card to keep them from closing?

My recommendation would be to use each card at least once every three months.  It can be for something small, and something you'd pay for anyway out of cash, like one trip to the grocery store or one tank of gas.  Just pay it when the bill comes.  No harm to you, and usage of your cards is demonstrated to the cc companies.  The cards will not look "dormant" to them.
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Posts: 28,095
Registered: ‎04-01-2007
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Re: How often should I use each card to keep them from closing?

Once/ three months on bank cards, and once/ six months on store cards.

Once every month or two on HSBC/ Orchard bank cards, which seem to have the shortest patience of all.

DI, now that you're well into the juggling phase, I think you're going to find yourself eyeing a few cards as potential candidates for closure. Been there, done that, got the t-shirt.
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Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: How often should I use each card to keep them from closing?

Be particularly mindful of HSBC. They are famous for closing disused cards without notice after three months. There is rarely any recourse when a card closed for disuse other than to reapply and open a new account. When it comes to revolving credit either use it or lose it!
Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
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Re: How often should I use each card to keep them from closing?


creditwherecreditisdue wrote:
Be particularly mindful of HSBC. They are famous for closing disused cards without notice after three months. There is rarely any recourse when a card closed for disuse other than to reapply and open a new account. When it comes to revolving credit either use it or lose it!

I won't care if HSBC decides to close my account.  Situations like that is why I have many cards.  It lightens the burden to have to play by one particular banks' rules.  If one bank decides to close my account, I can just turn to the next.  

Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
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Re: How often should I use each card to keep them from closing?

So do you think an 80$ bill taken off 10k Citi line and PIF every month will keep the account "active enough" in order to keep the line from being cut?
Regular Contributor
Posts: 179
Registered: ‎10-21-2008
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Re: How often should I use each card to keep them from closing?


Lexa wrote:
So do you think an 80$ bill taken off 10k Citi line and PIF every month will keep the account "active enough" in order to keep the line from being cut?
Yes. I charge $5/month to a Citi card with a $16K CL. No problem.
 

 

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