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Ok to use 8k cc for gum per 60 days?

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codesingh
Regular Contributor

Ok to use 8k cc for gum per 60 days?

Hey myFICOers...I have always wondered what would be the repurcussion/impact of using a regular revolving cc (from chase, cap, amex, barclay, discover...or any lender at all) for minimum spending for eg. purchasing a gum or a candy every 60 days or so.

 

in other words, there are few of my choice cards that I always charge for my most spending but the rest of the CCs that I have, i use them for very tiny spending just to keep them alive, not because they have very less limit but because they are either store  visa/master card(which have matured and gotten good limits) or airlines' card which i don't fly as much. i sitll want to keep them because of nice CLIs they have.

 

-Code

~ 100k in Rev CC. 15k Credit Line. 16.5k Car Loan(@1.7%) Starting scores: 690 EQ (Dec 2012) Mid-year FICO scores April ‘13 Pulled by lenders(Barclays, Amex): TU 747 • EQ 752 • EX 746 • Scores As of Nov 2013: 740 and above across the board.
Message 1 of 7
6 REPLIES 6
gdale6
Moderator Emeritus

Re: Ok to use 8k cc for gum per 60 days?

Yes it just fine, CLIs can be obtained even with minimum usage on cards, at least I have found that to be true on my cards.

Message 2 of 7
Blackrv7
Frequent Contributor

Re: Ok to use 8k cc for gum per 60 days?

Yep, I have an 8K, no AF card I used over the weekend for a breakfast biscuit then returned back to the sock drawer for another 90 days.  No AF, no usage other than helping utl.


Current myFico EX 734, EQ 777, TU 742
AAoA 6 years 3 months, Length 25 years 2 months

Message 3 of 7
enharu
Super Contributor

Re: Ok to use 8k cc for gum per 60 days?


@codesingh wrote:

Hey myFICOers...I have always wondered what would be the repurcussion/impact of using a regular revolving cc (from chase, cap, amex, barclay, discover...or any lender at all) for minimum spending for eg. purchasing a gum or a candy every 60 days or so.

 

in other words, there are few of my choice cards that I always charge for my most spending but the rest of the CCs that I have, i use them for very tiny spending just to keep them alive, not because they have very less limit but because they are either store  visa/master card(which have matured and gotten good limits) or airlines' card which i don't fly as much. i sitll want to keep them because of nice CLIs they have.

 

-Code


Yes it is fine.

Some lenders may CLD you if most of the credit remains unused for an extended period of time, but if it happens you can call them to reverse the decision. It also doesn't happen that frequently as well.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 4 of 7
Darrell82
Established Contributor

Re: Ok to use 8k cc for gum per 60 days?

Nothing wrong with that at all. I do that as well. No impact at all and i have been doing that for a few years on one card. Good game plan though so that way your card does not get closed for not using it.




Message 5 of 7
codesingh
Regular Contributor

Re: Ok to use 8k cc for gum per 60 days?

Thanks Darrell82, enharu, Blackrv7 and gdale6 for your inputs. I feel so relieved. I was almost had resorted to start closing some of my accounts because I didn't know the truths along the "...its ok and it is fine..." type of lines. Thank you all again...I love this site for the real experienced people taking time to respond and spread the confidence.

~ 100k in Rev CC. 15k Credit Line. 16.5k Car Loan(@1.7%) Starting scores: 690 EQ (Dec 2012) Mid-year FICO scores April ‘13 Pulled by lenders(Barclays, Amex): TU 747 • EQ 752 • EX 746 • Scores As of Nov 2013: 740 and above across the board.
Message 6 of 7
Darrell82
Established Contributor

Re: Ok to use 8k cc for gum per 60 days?


@codesingh wrote:

Thanks Darrell82, enharu, Blackrv7 and gdale6 for your inputs. I feel so relieved. I was almost had resorted to start closing some of my accounts because I didn't know the truths along the "...its ok and it is fine..." type of lines. Thank you all again...I love this site for the real experienced people taking time to respond and spread the confidence.


Your most welcome..




Message 7 of 7
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