Why does everyone act like its such a shock when a lender closes their card for inactivity?!

[pizza1]

Seriously, I see post all the time of people ticked because their Credit card closed for 2+ YEARS of inactivity on it.  Why be ticked? You didn't use their card for 2-4 yrs, and now your mad because they closed it??  Rule of thumb is a small purchase ( pair if socks of something), every 3-6 months will keep it open.  People act like the company just did a complete disservice to them, or the ones who "max" out every card and wonder why they got AA despite perfect payments and paying the minimum monthly, you're a risk!! Ugh!! Sorry for the rant, but c'mon people....

[SunriseEarth]

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@pizza1 wrote:

Seriously, I see post all the time of people ticked because their Credit card closed for 2+ YEARS of inactivity on it.  Why be ticked? You didn't use their card for 2-4 yrs, and now your mad because they closed it??  Rule of thumb is a small purchase ( pair if socks of something), every 3-6 months will keep it open.  People act like the company just did a complete disservice to them, or the ones who "max" out every card and wonder why they got AA despite perfect payments and paying the minimum monthly, you're a risk!! Ugh!! Sorry for the rant, but c'mon people....

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Agreed.  It costs money to maintain an account, report it to the CRs, etc.   So there is a logical point where closing an account is a lender's best business decision.  

As for the maxers, I think a lot of that is just ignorance about how credit and credit scoring works.   I knew nothing about it until I got to this community.   I really had no idea just how much control you can really have over your scores.   There's definitely a learning curve, and many people think you need to spend lots and just pay on time to make good on your credit.  

[pizza1]

Sunrise... Me too!!! If I had known 15 yrs ago what I do now about credit and a scores, I probably would have never gotten myself into the mess I did, which ultimately led to a BK7 last year! I have more respect for credit and lenders now than I ever have!! Credit is a privilege, not a automatic given. Despite my past GE rants that I had, I've really taken a hard look at things and don't ever want to make the same mistakes I did in the past. I'm extremely fortunate to have the credit I do now especially after burning GE and Comenity for several thousand dollars, and they turned right around and gave me credit again, and a second chance??! I should never complain ever again!! Lol!!!

[coldnmn]

 

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@pizza1 wrote:
Sunrise... Me too!!! If I had known 15 yrs ago what I do now about credit and a scores, I probably would have never gotten myself into the mess I did, which ultimately led to a BK7 last year! I have more respect for credit and lenders now than I ever have!! Credit is a privilege, not a automatic given. Despite my past GE rants that I had, I've really taken a hard look at things and don't ever want to make the same mistakes I did in the past. I'm extremely fortunate to have the credit I do now especially after burning GE and Comenity for several thousand dollars, and they turned right around and gave me credit again, and a second chance??! I should never complain ever again!! Lol!!!

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Never complain again!  

[Chris679]

I think people expect a heads up before the account is closed. I agree that 2 years is probably an acceptable amount of time for them to close due to inactivity but a courtesy email or letter would not kill them. I think it's human nature to want something back the minute it is taken away even if you didn't care about it before.

[pizza1]

Chris... True and valid point, and yes and courtesy email would be nice, but they are lending to us, not us to them. In their eyes, a person who hasn't used their card in 2-4 yrs, obviously doesn't need their card and doesn't warrant a pre warning of closure.

[takeshi74]

Everyone doesn't.  Always consider the source.

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@pizza1 wrote:

Rule of thumb is a small purchase ( pair if socks of something), every 3-6 months will keep it open.  

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If one wants to avoid closure due to inactivity then one should be aware of the creditor's policy on the matter just as one should be aware of all the other aspects of a given card.  Don't rely on rule of thumb.  Creditors and their policies can and do differ.

[pizza1]

Take... Another valid point.. BUT, again... You haven't used the card in 2-4 YEARS..... Not just a few months,

[tcbofade]

This happened to a good friend of mine several years ago...paid off his Home Depot card in anticipation of a major purchase....(new AC unit).

He was able to get his existing system repaired for less than he thought, and got another two summers out of it.  When it finally DID die, he went through all of the evaluation, quoting, and set up for his new AC unit, just to find out that HD had closed his card. 

He was horribly embarrassed, and promptly drove over to Lowes to apply for THEIR card, and purchased his AC unit there.

[pizza1]

I'm not saying its right by any means to close an account without warning the consumer, but look at it from their point of view... Someone who doesn't use their card for years, doesn't need their credit apparently, that's how they see it. I'm sure it didn't bother Home Depot one bit when he went to lowes, but it did bother them that he didn't use their card in a couple of years. I suggest to people that they use their card like every 6 months for a small purchase. Home Depot sells cleaning supplies and paper towels!! When I had a HD card years ago, I would go in every 4-6 months or so and buy my cleaning supplies and some magazines, lol. Never had a problem