General Credit Topics

[moneypenny02]

Hi all, 

I have been lurking a little bit around these forums and thought I'd ask a question.  I have very good credit now and am trying to make sure to keep my credit score high, specifically in hopes of a house by this time next year.  My biggest concern is my credit ratio/ utilization & keeping that low. I had one of my longest-held credit cards close my account last year b/c I hadn't used it in a few years  and I am worried that this might happen with one of my other cards.  I have 2 citibank accounts that get good use (and paid off) and a 3rd that I dont use but want to keep b/c of its high balance--for emergencies, a capital one account that hasn't been used in about a year, a BofA acct that hasn't been used in probably 2-3 years, ditto for Macys, and some other store-specific cards that havent been used in probably 5-10.  Any tips on how to prevent them from being closed out from under me?  I could use them once a year if that would guarantee it wouldn't be closed, but I dont want to if that won't prevent it, or if that is not necessary to make sure they stay open.  Any tips for this situation?

Thanks!   

[webhopper]

---

moneypenny02 wrote:

Hi all, 

I have been lurking a little bit around these forums and thought I'd ask a question.  I have very good credit now and am trying to make sure to keep my credit score high, specifically in hopes of a house by this time next year.  My biggest concern is my credit ratio/ utilization & keeping that low. I had one of my longest-held credit cards close my account last year b/c I hadn't used it in a few years  and I am worried that this might happen with one of my other cards.  I have 2 citibank accounts that get good use (and paid off) and a 3rd that I dont use but want to keep b/c of its high balance--for emergencies, a capital one account that hasn't been used in about a year, a BofA acct that hasn't been used in probably 2-3 years, ditto for Macys, and some other store-specific cards that havent been used in probably 5-10.  Any tips on how to prevent them from being closed out from under me?  I could use them once a year if that would guarantee it wouldn't be closed, but I dont want to if that won't prevent it, or if that is not necessary to make sure they stay open.  Any tips for this situation?

Thanks!   

---

Many people with a lot of card rotate them...  As in, all but one sit in the sock drawer and that one gets used for a month, then it goes into the sock drawer and another one comes out...  Typically if you use the card once or twice every six months it won't get closed.

I would take all those cards, and go to the conveience store now, and buy a pack of gum with all of them, and immediately send payment for the purchase.

For the store cards, buy an inexpensive item that you actually need, like undies or socks...  

Edited after reconsideration.

[MarineVietVet]

---

webhopper wrote:

 

Many people with a lot of card rotate them...  As in, all but one sit in the sock drawer and that one gets used for a month, then it goes into the sock drawer and another one comes out...  Typically if you use the card once or twice every six months it won't get closed.

I would take all those cards, and go to the conveience store now, and buy a pack of gum with all of them, and immediately send payment for the purchase.

For the store cards, buy an item and then return it...

---

Would it not be unethical and less than honest to buy something that you know from the beginning you don't intend to keep?

[moneypenny02]

Thank you for the suggestions.  I hadn't thought about a rotation system.  At least for small purchases.  Some of those cards have huge interests rates that I cant get down and would be terrified that I might accidentally leave a balance!

[MarineVietVet]

---

moneypenny02 wrote:

Hi all, 

I have been lurking a little bit around these forums and thought I'd ask a question.  I have very good credit now and am trying to make sure to keep my credit score high, specifically in hopes of a house by this time next year.  My biggest concern is my credit ratio/ utilization & keeping that low. I had one of my longest-held credit cards close my account last year b/c I hadn't used it in a few years  and I am worried that this might happen with one of my other cards.  I have 2 citibank accounts that get good use (and paid off) and a 3rd that I dont use but want to keep b/c of its high balance--for emergencies, a capital one account that hasn't been used in about a year, a BofA acct that hasn't been used in probably 2-3 years, ditto for Macys, and some other store-specific cards that havent been used in probably 5-10.  Any tips on how to prevent them from being closed out from under me?  I could use them once a year if that would guarantee it wouldn't be closed, but I dont want to if that won't prevent it, or if that is not necessary to make sure they stay open.  Any tips for this situation?

Thanks!   

---

Hi there.

What I use most of my cards for is to autopay recurring monthly expenses that have to be paid anyway. One pays the cable bill, one the electric bill, another the XM Radio, etc. That way they are all used to show activity and I don't have to worry about any of them being closed because I forgot to pull one of them out.

I pay the charges as soon as they show up on the online accounts. I have done this for several years and it works very well for me.

[moneypenny02]

Also a very good idea.  I only have 2 bills that I can pay with CCs, but I could still set up autopay with them -- and then automatically pay the credit cards for the same amount.  Great idea, thanks!

[webhopper]

---

MarineVietVet wrote:

---

webhopper wrote:

 

Many people with a lot of card rotate them...  As in, all but one sit in the sock drawer and that one gets used for a month, then it goes into the sock drawer and another one comes out...  Typically if you use the card once or twice every six months it won't get closed.

I would take all those cards, and go to the conveience store now, and buy a pack of gum with all of them, and immediately send payment for the purchase.

For the store cards, buy an item and then return it...

---

Would it not be unethical and less than honest to buy something that you know from the beginning you don't intend to keep?

---

Ooh I didn't consider that... I agree that it would be,  Ok, i take that back about returning the item... In that case, just  buy socks or undies. or something that you can actually use. ...

I bought pantyhose with my inactive store card after reading these forums...

[webhopper]

---

Would it not be unethical and less than honest to buy something that you know from the beginning you don't intend to keep?

---

Sometimes I buy things not knowing if they will fit or not but that looks like it would be great to wear, and I'm limited on time generally in my daily life, I don't have time to try it on in the store.   So I buy it, hang onto the reciept... and when I want to wear something nice. I try it on and if it fits I keep, if not I return.  Is that unethical?

[MarineVietVet]

---

webhopper wrote:

---

Would it not be unethical and less than honest to buy something that you know from the beginning you don't intend to keep?

---

Sometimes I buy things not knowing if they will fit or not but that looks like it would be great to wear, and I'm limited on time generally in my daily life, I don't have time to try it on in the store.   So I buy it, hang onto the reciept... and when I want to wear something nice. I try it on and if it fits I keep, if not I return.  Is that unethical?

---

IMO the key words to consider are you know from the beginning you don't intend to keep

[Brian_Trying_700]

Just saying. I bought a dish towel off Macys.com. Any card you have....Make it a point and buy 2-3 times a years and PIF.