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Shortest Time for Inactive Credit Card being closed?

Regular Contributor

Shortest Time for Inactive Credit Card being closed?

Im little curious about what is the shortest time someone has had an inactive card being closed. I'm sure HSBC is going to get this one, but i still would like to see.


Starting Score: TU-710 EQ-717
Current Score: TU- 732 EQ-726
Goal Score: 780 (for both)

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Message 1 of 14
13 REPLIES
Valued Contributor

Re: Shortest Time for Inactive Credit Card being closed?

Mine actually took longer than I expected. I opened Old Navy in Dec. of 2006, and Old Navy closed it in January of 2009. So, basically 2 years. I don't think I had used it since my original purchase.

 

The card you're talking about...are you wanting it to be closed? If not, just use it for a tiny amount. If you do want it closed, why don't you close it yourself so that you don't get the tag "closed by credit grantor"? I know that statement doesn't affect FICO scoring, but I certainly wish I had closed my unused accounts myself.

Message 2 of 14
Regular Contributor

Re: Shortest Time for Inactive Credit Card being closed?


LynetteM wrote:

Mine actually took longer than I expected. I opened Old Navy in Dec. of 2006, and Old Navy closed it in January of 2009. So, basically 2 years. I don't think I had used it since my original purchase.

 

The card you're talking about...are you wanting it to be closed? If not, just use it for a tiny amount. If you do want it closed, why don't you close it yourself so that you don't get the tag "closed by credit grantor"? I know that statement doesn't affect FICO scoring, but I certainly wish I had closed my unused accounts myself.


 

No, I'm not trying to close an account, but keep it open. I know just use it every now and then, but I'm just curious to see how long certain cards can stay open. I guess this thread should be mostly concerning store cards. I mean i dont want to walk in best buy every month just to put a coke on it if I dont have to, instead maybe every three months or so. The only card I know is that KAY will close after 2 years of no use, was told this by a rep, which makes since because there is really anything cheap they sell besides jewelry cleaner which is what I purchase once a year from them unless i plan on getting g/f something.

Starting Score: TU-710 EQ-717
Current Score: TU- 732 EQ-726
Goal Score: 780 (for both)

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Message 3 of 14
Senior Contributor

Re: Shortest Time for Inactive Credit Card being closed?

Store cards usually can go much longer inactive than a major card.

 

Major cards generally need some use every 2-3 months.  While you may go longer, you are taking a chance going longer on the major.  Store cards usually are okay with use 1-2x per year (watch for the after sales and closeouts).

 

The other factor for use is that CC's (majors) tend to track patterns and habits.  So when you little use or never use, you kind of put yourself in a situation that if/when you decide to start using it, you may find it triggers some type of review, AA, etc.

 

 

 

 

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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
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Message 4 of 14
Super Contributor

Re: Shortest Time for Inactive Credit Card being closed?

I went months and years at a time without using my Capital One and Target card.  They both my oldest card and is still open.  Since the credit market is a little shaky now, I now make regular charges to prohibit closure of the accounts.  
Message 5 of 14
Regular Contributor

Re: Shortest Time for Inactive Credit Card being closed?

Anyone had there HSBC Best Buy card dropped?


Starting Score: TU-710 EQ-717
Current Score: TU- 732 EQ-726
Goal Score: 780 (for both)

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Message 6 of 14
Frequent Contributor

Re: Shortest Time for Inactive Credit Card being closed?


Kylan1234 wrote:

Anyone had there HSBC Best Buy card dropped?


No, but my HSBC Saks card dropped after being inactive for six months.

TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
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Message 7 of 14
Senior Contributor

Re: Shortest Time for Inactive Credit Card being closed?


Kylan1234 wrote:

Anyone had there HSBC Best Buy card dropped?


There are many reports of people having their BB account closed for disuse including one that was quite recently posted here. Don't mess around with HSBC. They do not like disuse!

Message 8 of 14
Established Contributor

Re: Shortest Time for Inactive Credit Card being closed?

I have heard rumors that HSbc shut cards after 3 months
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
Message 9 of 14
Super Contributor

Re: Shortest Time for Inactive Credit Card being closed?

I had one that would be closed if I did not use it once a year.

 

And the real CCs I want to keep open I used every month (either routine bills or charitable donations).  That keeps them ticking over and I know how much will be spent every month

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 10 of 14