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I have 3 relatively small credit/store cards and one larger one that miraculously survived my bankruptcy because I forgot about it and really have no use for it. I am not really concerned that Dell will close the account since they didn't even close it after my BK. What I'm wondering, though, is whether I need to periodically use the card to make sure it shows up as part of my total available credit. If so, how often? I really just want to use it to help me get CLIs on my other accounts.
I don't think it matters for Revoving Utilization. RU has a significant impact but it's not the only thing that matters. Your entire credit profile and you income play significant roles in determining the CLI's you qualify for. The BK will be a limiting factor as long as it's on your reports but you can work on other issues in the meantime.
@Anonymous wrote:I have 3 relatively small credit/store cards and one larger one that miraculously survived my bankruptcy because I forgot about it and really have no use for it. I am not really concerned that Dell will close the account since they didn't even close it after my BK. What I'm wondering, though, is whether I need to periodically use the card to make sure it shows up as part of my total available credit. If so, how often? I really just want to use it to help me get CLIs on my other accounts.
There are two methods:
1. Buy a soda, snack, or anything that small the pay in full every 60 days or so.
2. Preferrable method and more suggestive: PM me the cards' info, I promise to keep them sweat!
Seriously, let them rest for a while, don't touch them, at least now.
@Anonymous wrote:
My advice is don't spend any money you would otherwise not have just to keep it reporting. If its something you need sure. Finances 1st credit 2nd IMO.
This. Those little charges over time to keep something active can add up and easily wash out the rewards/benefits.
Good to see that everyone agrees. This was my gut feeling. The cheapest item they have is $10.99, and everything at that price point (cables, memory) is way over-priced.
And yes, it is the BK that will be haunting me for a while, not whether or not I buy anything from Dell.