topic Re: CC usage required in Credit Cards

CC usage required

joeblow2 — Fri, 03 Apr 2015 21:28:55 GMT

Does anyone know how often you need to use a Captial One CC before they will close it ?

Re: CC usage required

Anonymous — Fri, 03 Apr 2015 21:30:03 GMT

Anecdotal data suggests that Cap One doesn't close accounts for inactivity. I don't plan on using my card very often, I'll report back in a year or so.

Re: CC usage required

joeblow2 — Sat, 04 Apr 2015 14:06:17 GMT

Anyone know about Chase, Citi , or Barclay cards?

Re: CC usage required

David_ — Sat, 04 Apr 2015 14:09:52 GMT

I had a Barclay Apple Financing and it was closed due to 6 months of inactivity. I tried to merge it with my Barclay Rewards card and they told me to wait a few months. The few months just happened to go over the 6 month mark and it was closed. Thanks Barclay!

Re: CC usage required

Anonymous — Sat, 04 Apr 2015 14:12:32 GMT

I had a Cap1 Plat that I didn't use for nearly 5 years and they still didn't close it. They even offered to PC to QS and gave me a CLI from $750 to $5k.

Re: CC usage required

psm — Sat, 04 Apr 2015 14:27:44 GMT

For cards I want to keep open I put Netflix or Hulu or some recurring charge on it. Then have an autopay that pays it before statement cut so it is always 0 reporting. I have three like that after a CU card was closed on me after no use in 12 mos

Re: CC usage required

joeblow2 — Mon, 06 Apr 2015 02:10:13 GMT

Anyone else have experiences with Barclay Reward card closures for inactivity ?

Re: CC usage required

Anonymous — Mon, 06 Apr 2015 02:52:29 GMT

@joeblow2 wrote:
Anyone else have experiences with Barclay Reward card closures for inactivity ?

With Barclays, after a year they will send you a letter notifying you of closure if not used. If you still don't use it and then they close it. But they will let you know before the account is closed.

Re: CC usage required

Anomalous — Mon, 06 Apr 2015 03:38:40 GMT

To avoid that, I would make it a habit of charging something every six months. The simple purchase of an everyday household essential would do the trick, then one wouldn't have to worry about account closures.

Create a calendar alert to remind you to do so.

Re: CC usage required

takeshi74 — Mon, 06 Apr 2015 12:32:10 GMT

I'd suggest verifying with your creditors versus relying on posts since you'd have to verify the data anyway.

Re: CC usage required

NRB525 — Mon, 06 Apr 2015 13:15:54 GMT

(or better yet, just plan to use the Barclays card if you really want to keep the Barclays card open. if it's in a sockdrawer for a year not being used, why is it open at all?)

Re: CC usage required

joeblow2 — Sat, 11 Apr 2015 18:42:57 GMT

I emailed Customoer service . They said 6 months of inacativity and the account is closed. I called and they could not give me a time frame for closure for inacativity

Re: CC usage required

NRB525 — Sat, 11 Apr 2015 22:46:53 GMT

So you got two different answers from the same company, not surprising

Often the comment by people here who want to SD cards is "I'm using the other cards because they have better rewards" or some such reason that they can't be bothered getting the card out of the SD every two months. My reply is, if you aren't using the card for 6 months or a year, you must not really need the card, eh? So why worry about it? The CCC may or may not close the card, the cardholder obviously doesn't need the card, so it's just a housekeeping move by the CCC.

OTOH, once you have the card, you've invested some effort to get the card, it has some certain level of utility, so finding a way to use it every two months results in an earned "reward" of a different kind: No hassle with having a card closed out from under you.

Re: CC usage required

Anonymous — Sat, 11 Apr 2015 22:55:53 GMT

@NRB525 wrote:
So you got two different answers from the same company, not surprising

Often the comment by people here who want to SD cards is "I'm using the other cards because they have better rewards" or some such reason that they can't be bothered getting the card out of the SD every two months. My reply is, if you aren't using the card for 6 months or a year, you must not really need the card, eh? So why worry about it? The CCC may or may not close the card, the cardholder obviously doesn't need the card, so it's just a housekeeping move by the CCC.

OTOH, once you have the card, you've invested some effort to get the card, it has some certain level of utility, so finding a way to use it every two months results in an earned "reward" of a different kind: No hassle with having a card closed out from under you.

It really comes down to "Do you care about this card?" I have a number of cards that I really don't care about (I got them a while ago and now they have been superceded by better cards) so planning to use then every so often is a waste of effort IMO. So while I did invest some effort (perhaps years ago) to get the card, that is a sunk cost, and I have to consider the utility of expending more effort to keep it alive.

The alternative proposed by some is to close the cards to avoid a "Closed by issuer" if that concerns you, but I am not concerned enough to bother!

Re: CC usage required

Chilli — Sat, 11 Apr 2015 23:16:06 GMT

Re: CC usage required

Anonymous — Sat, 11 Apr 2015 23:54:13 GMT

@NRB525 wrote:

OTOH, once you have the card, you've invested some effort to get the card, it has some certain level of utility, so finding a way to use it every two months results in an earned "reward" of a different kind: No hassle with having a card closed out from under you.

This. If I got a card just for the sign up bonus then the card has earned its salt as soon as the SUB was posted and redeemed. Usually cards with high SUBs also have an AF so it's mando to close them asap anyway. If I got a card for its rewards then I use it for the intended reason. If it has been superseded by a better rewards card then why bother, unless it's vital for your AAoA.

Re: CC usage required

taxi818 — Sun, 12 Apr 2015 01:12:28 GMT

@Anonymous wrote:
Anecdotal data suggests that Cap One doesn't close accounts for inactivity. I don't plan on using my card very often, I'll report back in a year or so.

True. especially if it has a AF. as they will expect you to pay that at least once a year and you will be good togo. for none AF cards. im not too sure. but me for 1 will use it at least every 6 months. even if for small purchase. netflix or hulu is a small purchase friend.

Re: CC usage required

kdm31091 — Sun, 12 Apr 2015 01:15:17 GMT

The policies vary by lenders of course but I have seen a lot of 6 months - 1 year being the rule. I am not a big proponent of keeping no longer useful cards open, but if you choose to do so, I think a monthly or every two month small charge is the safest bet for not triggering an auto closure. This way you won't cut it close with different policies some of which have shorter windows.

Re: CC usage required

joeblow2 — Sun, 12 Apr 2015 19:17:36 GMT

I have a good score over 800 and my aaoa is high so i dont want this closed down. Its 10 yrs old. I wanted to see if anyone has any experience with Barclay cards and if they do close down after 6 months of no use