topic Re: Cap One Sock in Credit Cards

Cap One Sock

Anonymous — Sun, 05 Apr 2015 01:50:35 GMT

So I've heard that Cap One doesn't usually close accounts for inactivity. Is this true? With my recent spree I have no real use for my Journey card anymore except for AAoA (it is my oldest credit line). I could always run a small amount through it each month but was curious if I need to. If I just stow it away and use it maybe once a year am I good?

Re: Cap One Sock

Anonymous — Sun, 05 Apr 2015 01:53:29 GMT

Closing the account will not lower your AAoA since Fico scoring includes closed accounts in the formula.

Re: Cap One Sock

Anonymous — Sun, 05 Apr 2015 01:56:22 GMT

@Anonymous wrote:
So I've heard that Cap One doesn't usually close accounts for inactivity. Is this true? With my recent spree I have no real use for my Journey card anymore except for AAoA (it is my oldest credit line). I could always run a small amount through it each month but was curious if I need to. If I just stow it away and use it maybe once a year am I good?

You should be fine.. I have an old Venture that I haven't used in over 2 years. It is still open.

Re: Cap One Sock

Anonymous — Sun, 05 Apr 2015 01:57:24 GMT

@Anonymous wrote:
Closing the account will not lower your AAoA since Fico scoring includes closed accounts in the formula.

Yes but isn't that only for a certain time then it falls off? If I were to close anything it'd be my stupid Citi Dividend Platinum....

Re: Cap One Sock

Anonymous — Sun, 05 Apr 2015 02:00:08 GMT

@Anonymous wrote:
@Anonymous wrote:
So I've heard that Cap One doesn't usually close accounts for inactivity. Is this true? With my recent spree I have no real use for my Journey card anymore except for AAoA (it is my oldest credit line). I could always run a small amount through it each month but was curious if I need to. If I just stow it away and use it maybe once a year am I good?
You should be fine.. I have an old Venture that I haven't used in over 2 years. It is still open.

Thanks! I hope this is the Case as my new Venture and Sallie Mae will probably be my daily cards for the future . I plan on growing my new cards for a LONG time and I just don't want to think about my Journey anymore lol... Also do you think Citi will close my Dividend Platinum Select if I don't use it? I really don't like that card but it got me going along with the Journey in my road to establishing credit.

Re: Cap One Sock

Anonymous — Sun, 05 Apr 2015 02:04:41 GMT

Yeah, from what I hear you won't get hit with a closed account or CLDs with inactivity. Of course, this may differ for everybody. If you want to play it safe, just go ahead and use it on a stick of gum every 6 months or so. I'm dealing with a similar situation with my Quicksilver card since I have the Double Cash, but I figured out a spending strategy to keep it in my wallet for now.

Re: Cap One Sock

Anonymous — Sun, 05 Apr 2015 02:10:04 GMT

@Anonymous wrote:
Yeah, from what I hear you won't get hit with a closed account or CLDs with inactivity. Of course, this may differ for everybody. If you want to play it safe, just go ahead and use it on a stick of gum every 6 months or so. I'm dealing with a similar situation with my Quicksilver card since I have the Double Cash, but I figured out a spending strategy to keep it in my wallet for now.

Yeah I'll probably do that with this and the Citi as I really don't want to carry them around. Thanks for the advice and hopefully I don't forget about them!

Re: Cap One Sock

Anonymous — Sun, 05 Apr 2015 02:13:50 GMT

@Anonymous wrote:
@Anonymous wrote:
Closing the account will not lower your AAoA since Fico scoring includes closed accounts in the formula.
Yes but isn't that only for a certain time then it falls off? If I were to close anything it'd be my stupid Citi Dividend Platinum....

Up to 10 years, and by then it won't matter.

Re: Cap One Sock

Anonymous — Sun, 05 Apr 2015 02:19:13 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Closing the account will not lower your AAoA since Fico scoring includes closed accounts in the formula.
Yes but isn't that only for a certain time then it falls off? If I were to close anything it'd be my stupid Citi Dividend Platinum....

Up to 10 years, and by then it won't matter.

Seriously??? Lol I don't plan on keeping it THAT long!

Re: Cap One Sock

barthooper — Sun, 05 Apr 2015 02:20:24 GMT

What about a PC to Quicksilver? Probably not much point if Venture/Sallie Mae gets your daily spend anyway though.

Re: Cap One Sock

Anonymous — Sun, 05 Apr 2015 02:25:51 GMT

@barthooper wrote:
What about a PC to Quicksilver? Probably not much point if Venture/Sallie Mae gets your daily spend anyway though.

I tried PC but it was a no go. I'll probably try again in 6 months if I actually remember to do it lol