Sock Drawer vs using once a month??

[Anonymous]

I have a Victoria Secret card and a NY & Co Card - I got these cards mainly to help with my credit a while back -both have very small limits.

Is it better to just hold on to them or to use them for something small and let it report and then pay it off?

My goal is to increase the limits on both of them - currently 500.00 each - I have used the VS card but paid off the balance before it poted - will this be helpful to increase my credit limit in the future or should i let a small $10.00 balance post to my credit then pay it off??

Thanks

[Anonymous]

I can't really speak to those cards specificly, but most card limits aren't increased if you don't use the card. I'd use it( if you need to) and pay in full. 

[negg]

Lol, my BofA has been in my sock drawer for over a year, possibly two years. Still active. 

[Anonymous]

If you've had those cards for a while you could try the luv button - I got a CLI on VS after having not used them for a couple months (and then bought something I was looking at anyway to show usage and to force it to report the new limit).  I think VS won't entertain a request for a QLI until the card is at least 4-6 months old, I've had mine for 10 months and have had 2 CLIs.

Just don't go nuts on Comenity cards or they'll AA and shut everything down apparently.

Don't use them unless you need something from the stores, though.  No sense in buying something randomly just to make them report.

[Anonymous]

I didn't use my Bofa card for like 1.5 years and it was still open. I ended up making a small purchase just to renew.

My buddy has a Capital One card he hasn't used since 2010. Yes 6 years. Still open. Lol

[Anonymous]

VS does like to see some history before CLIs. I've never let a balance report, but they did give a $400 CLI after the 6th statement.

[austinguy907]

If you have other cards in your collection and don't have a need for them then just toss them in a shredder and forget about them.  They're store specific and won't do you much good other than letting them report $0 balances each month and slightly pad your utilization on other accounts.

[Anonymous]

After using the card wait for 6 months from what I've read, then hit the luv button. After that do it monthly and they will grow. Usually get a $200 CLI and it's a SP. Some of my Comenity cards I've used once and PIF and hit the luv button and get the increase. I have a few cards I've never used and no increase. I only keep Comenity cards I use or plan on, the rest I closed after making the mistake of going crazy with the SCT. I've closed about 70% of my Comenity cards, they served something of a purpose, just don't spend for the sake of CLI or buying things you can't afford and don't need. I always try to remember, cards are a tool, I must be their master, not their servant.  

[longtimelurker]

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@Anonymous wrote:

After using the card wait for 6 months from what I've read, then hit the luv button. After that do it monthly and they will grow. Usually get a $200 CLI and it's a SP. Some of my Comenity cards I've used once and PIF and hit the luv button and get the increase. I have a few cards I've never used and no increase. I only keep Comenity cards I use or plan on, the rest I closed after making the mistake of going crazy with the SCT. I've closed about 70% of my Comenity cards, they served something of a purpose, just don't spend for the sake of CLI or buying things you can't afford and don't need. I always try to remember, cards are a tool, I must be their master, not their servant.  

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Bolded part is indeed key.

And to a lesser extent, spend on cards to keep them alive also (usually) has a small cost, those purchases could go on better cards, and over a long period of time, the missing rewards add up.

IMO: CLs are only needed on cards you really use where you have to pay more than once a month to stay within limits, and perhaps early on building/rebuilding.  Keeping cards alive is even less necessary.

[Kevin86475391]

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@longtimelurker wrote:

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@Anonymous wrote:

After using the card wait for 6 months from what I've read, then hit the luv button. After that do it monthly and they will grow. Usually get a $200 CLI and it's a SP. Some of my Comenity cards I've used once and PIF and hit the luv button and get the increase. I have a few cards I've never used and no increase. I only keep Comenity cards I use or plan on, the rest I closed after making the mistake of going crazy with the SCT. I've closed about 70% of my Comenity cards, they served something of a purpose, just don't spend for the sake of CLI or buying things you can't afford and don't need. I always try to remember, cards are a tool, I must be their master, not their servant.  

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Bolded part is indeed key.

And to a lesser extent, spend on cards to keep them alive also (usually) has a small cost, those purchases could go on better cards, and over a long period of time, the missing rewards add up.

IMO: CLs are only needed on cards you really use where you have to pay more than once a month to stay within limits, and perhaps early on building/rebuilding.  Keeping cards alive is even less necessary.

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I second this. I wouldn't worry about getting CLIs on store cards you don't use anyway. You don't need them and by trying to 'force' activity through the cards you're just spending money you could have saved or used elsewhere. I'd say let them close if they close and instead focus on trying to get CLIs on cards that you will naturally want to use.