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New Member
GM_Mike
Posts: 4
Registered: ‎12-03-2012

Must let balance report to keep card active?

Have been searching like crazy to try to find an answer to this...

 

Conventional wisdom is to make sure to use every card periodically, so it is not closed for inactivity.

 

In practice, do I need to let the card actually report a balance, or could I charge something then pay it off before the statement closes?

 

I have a few old cards I rarely use that I'd like to keep active (from the issuers' standpoint) but really don't want another balance to report.

 

Interested in what the reality is, especially with CapOne, Citi, and Chase.  Thanks

 

Contributor
Croselx
Posts: 138
Registered: ‎07-31-2012

Re: Must let balance report to keep card active?

I would think that as long as you swipe the card every now and then it would qualify as activity even if you PIF before statement cuts.

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries
Regular Contributor
Quips
Posts: 157
Registered: ‎03-05-2012

Re: Must let balance report to keep card active?

+1 

FICO: EQ 769, TU 762 , EX ???

New Member
GM_Mike
Posts: 4
Registered: ‎12-03-2012

Re: Must let balance report to keep card active?


Croselx wrote:

I would think that as long as you swipe the card every now and then it would qualify as activity even if you PIF before statement cuts.


That's what common sense would tell me, too, but I've learned common sense doesn't always apply with credit card companies...

 

Thanks for the feedback so far.  Hopefully some folks have additional experience to contribute as well.

 

Frequent Contributor
tattooedhusker
Posts: 484
Registered: ‎10-25-2012

Re: Must let balance report to keep card active?

I've always made periodic purchases and PIF before the statement cuts, and have never had a card close on me. Take it for what it's worth, I'm not promising anything though.

NFCU CashRewards $13.5k | AMEX BCE $9.5k | Lowes $17k | Sportsmanss guide $5.5k | Chase Freedom $1k | Discover IT $1.4k |
Walmart $8k | Gordman's $1750 |
Scores: EQ: 676 EX: 714 TU: 720 Goal: 750 across the board
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

Re: Must let balance report to keep card active?

if you want to see a Fico Bungee charge lunch on all your cards and see how fast your score drops :smileyvery-happy: and see how it rebounds the next month lol doesn't really hurt anyways. I like seeing a rollercoaster scores lol


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Frequent Contributor
Cleanmachine
Posts: 396
Registered: ‎04-30-2008

Re: Must let balance report to keep card active?

About a year ago I had two Chase cards that I would use for purchases and pay prior to closing date.

 

I did this for quite a long period of time always showing -0-Balance.

 

Guess Chase felt they were not getting enough money from me an closed the account.

 

The sad part, they failed to notify me that they closed the account. Slightly embarrassed at check out.

However, I had other cards to use.

 

Contacted Service Representative to fine out why and all they could/would tell me that a letter will be sent.

 

Still waiting for that letter.

 

If I am not mistaken, If you allow your credit card to continue to post -0- after a period of time FICO no

longer uses these accounts for scoring purposes. Not positive about that or the time frame.

 

Maybe someone who keeps track of their score will respond.

Valued Contributor
armbenderc
Posts: 1,339
Registered: ‎09-11-2012

Re: Must let balance report to keep card active?


Cleanmachine wrote:

About a year ago I had two Chase cards that I would use for purchases and pay prior to closing date.

 

I did this for quite a long period of time always showing -0-Balance.

 

Guess Chase felt they were not getting enough money from me an closed the account.

 

The sad part, they failed to notify me that they closed the account. Slightly embarrassed at check out.

However, I had other cards to use.

 

Contacted Service Representative to fine out why and all they could/would tell me that a letter will be sent.

 

Still waiting for that letter.

 

If I am not mistaken, If you allow your credit card to continue to post -0- after a period of time FICO no

longer uses these accounts for scoring purposes. Not positive about that or the time frame.

 

Maybe someone who keeps track of their score will respond.


I didn't know that. Maybe someone can confirm this?

 

As for your Chase, it seems fishy and unprofessional to me. My chase freedom, report 0 everytime, ran about 400-500 a month, then PIF before statement cut. I'm racking up points... If they close the account, I would move my banking and take my business elsewhere.

 

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Must let balance report to keep card active?


armbenderc wrote:

Cleanmachine wrote:

 

If I am not mistaken, If you allow your credit card to continue to post -0- after a period of time FICO no

longer uses these accounts for scoring purposes. Not positive about that or the time frame.

 


I didn't know that. Maybe someone can confirm this?

 

 


 

It's true to a point. FICO will ignore certain aspect of a TL if it hadn't reported for a while. Most all CCs report monthly regardless of use, but over extended periods of time some will stop updating and it is that lack of an update where FICO will ignore aspects like the balance and CL. It's always good to be in the practice of using each card at least once every 3-4 months just to keep some activity on it and to keep the creditor from closing it due to non-use.


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