topic SD'd cards strategy? in Credit Cards

SD'd cards strategy?

toothgrind3r — Mon, 15 Dec 2014 17:44:43 GMT

I've got a few cards in the sock drawer, and possibly going to be adding 1 or 2 more.

Question is, what's a good strategy in dealing with them, keeping them open/active, etc?

Currently, I have 1 small reocurring monthly charge on each, with each set to PIF on due date.

Buuuuuut....as the amount of cards I have grow, so does my worry and paranoia that something will fall through the cracks and I will *shudder* miss a payment!

Ideally, I would love to take those charges off of those cards, and, say, maybe every January, once a year, make a charge to all the cards. So, January every year would be the time to take care of my SD'd cards...use and pay and be done with them.

Is that not enough usage?

Re: SD'd cards strategy?

1GaDawg85 — Mon, 15 Dec 2014 17:46:52 GMT

Once a year is more than enough

Re: SD'd cards strategy?

eddie84 — Tue, 16 Dec 2014 03:53:19 GMT

@1GaDawg85 wrote:
Once a year is more than enough

+1 I have a Dell Financial Service credit line that I use once a year (it was opened in 1999) so yes, once a year would suffice.

Re: SD'd cards strategy?

Anonymous — Mon, 15 Dec 2014 19:21:17 GMT

@toothgrind3r wrote:
I've got a few cards in the sock drawer, and possibly going to be adding 1 or 2 more.
Question is, what's a good strategy in dealing with them, keeping them open/active, etc?

Currently, I have 1 small reocurring monthly charge on each, with each set to PIF on due date.

Buuuuuut....as the amount of cards I have grow, so does my worry and paranoia that something will fall through the cracks and I will *shudder* miss a payment!

Ideally, I would love to take those charges off of those cards, and, say, maybe every January, once a year, make a charge to all the cards. So, January every year would be the time to take care of my SD'd cards...use and pay and be done with them.

Is that not enough usage?

I would definitely take the charges off and only use the cards once every 6 to 12 monthts. If there is even a .001% chance that you would possibly overlook a payment it is in NO WAY worth it. A potential missed payment is simply not worth keeping a SD'd card open.

Re: SD'd cards strategy?

MarineVietVet — Mon, 15 Dec 2014 19:53:37 GMT

@1GaDawg85 wrote:
Once a year is more than enough

We all have to decide what is best but IMO you're taking an unnecessary risk by waiting a year between charges.

It might work and probably will but I try not to go longer than six months.

It's another YMMV situation. Different issuers will have different criteria as to what they consider sufficient activity.

Re: SD'd cards strategy?

SunriseEarth — Mon, 15 Dec 2014 20:34:54 GMT

@MarineVietVet wrote:
@1GaDawg85 wrote:
Once a year is more than enough
We all have to decide what is best but IMO you're taking an unnecessary risk by waiting a year between charges.

It might work and probably will but I try not to go longer than six months.

It's another YMMV situation. Different issuers will have different criteria as to what they consider sufficient activity.

+1. At some point, managing those cards might become more of a headache than it's worth. This might be that situation.

Re: SD'd cards strategy?

toothgrind3r — Mon, 15 Dec 2014 20:35:58 GMT

Yeah it's not really a headache, just paranoia!

Re: SD'd cards strategy?

SunriseEarth — Mon, 15 Dec 2014 20:40:46 GMT

@toothgrind3r wrote:
Yeah it's not really a headache, just paranoia!

I think taking them out for a small purchase every 6 months or so would suffice for most creditors. You could then just arrange an immediate payment.

Re: SD'd cards strategy?

Anonymous — Mon, 15 Dec 2014 22:04:07 GMT

once a year would suffice

Re: SD'd cards strategy?

waters — Tue, 16 Dec 2014 03:36:37 GMT

When I sd a card I still use it for a small monthly fee..

Barclaycard has Netflix
Merrick has a 9/adobe monthly charge I have.

Guess I'm cheating

Re: SD'd cards strategy?

Anonymous — Tue, 16 Dec 2014 03:45:29 GMT

I think it also depends on how much you care if a card gets closed. Almost by definition, I don't really need my S/D cards. Now once in a while I am surprised and a previously useless card becomes useful (Penfed for Redbird is the most recent, and in fact only example I have!) So if that is your attitude, once a year is fine, and if a fussy creditor closes one of the cards, well, that's OK.

Again, the cards usually aren't great because you don't need to use them for at least year, so no great loss. (And no, I don't believe in the need for utilization padding!)

Re: SD'd cards strategy?

NRB525 — Tue, 16 Dec 2014 03:48:37 GMT

OP: Why is the REI card in the sock drawer? For REI-specific purchases it is your best rewards, right?

You should at least buy it some wool socks. Then a poly shirt. Then a rain jacket... and then a little knapsack to carry it all in.

Re: SD'd cards strategy?

toothgrind3r — Tue, 16 Dec 2014 03:59:32 GMT

@NRB525 wrote:
OP: Why is the REI card in the sock drawer? For REI-specific purchases it is your best rewards, right?

You should at least buy it some wool socks. Then a poly shirt. Then a rain jacket... and then a little knapsack to carry it all in.

hahha, yeah, I guess the REI card isn't REALLY in the sock drawer....when I shop at REI it comes with me....but that's only once every few months tops.

Re: SD'd cards strategy?

Anonymous — Tue, 16 Dec 2014 08:20:08 GMT

I currently have two cards in the SD - Bloomindale's, which is only used for my birthday shopping (once a year). I think they are okay with the once a year usage, becuase they know that their products are expensive, and a yearly spend of $1k is enough to keep the acount open.

Capital One Quicksilver - I do not use my QS 1 due to PCing to the Citi DC. I will however use my QS 1 every few months to got some use out of it that way I can get CLI every 6 monthis.

I thnk if you use your cards every few months, then you will not have a problem with keeping the accounts open, and will not have a problem with keeping track of your due dates. What you can do is change all of your SD due dates to the same date that way you will have a need to remember several dates.

Re: SD'd cards strategy?

takeshi74 — Tue, 16 Dec 2014 13:33:04 GMT

@toothgrind3r wrote:
Is that not enough usage?

Policies vary. Verify directly with each of your creditors.