Credit Cards Center Credit cards from our partners
Reply
New Member
Posts: 4
Registered: ‎12-03-2012
0

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
Posts: 139
Registered: ‎07-31-2012
0

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
Posts: 157
Registered: ‎03-05-2012
0

Re: Must let balance report to keep card active?

+1 

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

New Member
Posts: 4
Registered: ‎12-03-2012
0

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.

 

Highlighted
Established Contributor
Posts: 529
Registered: ‎10-25-2012
0

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 $15k | Lowes $17k | Sportsmanss guide $7.6k | Chase Freedom $1k | Discover IT $4.4k |
Walmart $8k | Gordman's $2950
Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
0

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 Smiley Very 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
Posts: 399
Registered: ‎04-30-2008
0

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
Posts: 1,339
Registered: ‎09-11-2012
0

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
Posts: 32,869
Registered: ‎08-04-2007
0

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.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.