topic Re: Any advice for keeping store cards active? in Credit Cards

Any advice for keeping store cards active?

Anonymous — Sat, 18 Feb 2017 22:47:04 GMT

As the title of the post suggests, 2 of my oldest credit cards are store cards (Macy's and Gamestop). I haven't used them in the past year because I've gotten better cards. I don't want to close them as my AAoA would go down.

Re: Any advice for keeping store cards active?

Anonymous — Sat, 18 Feb 2017 23:08:30 GMT

Well, the simple answer would be to go and buy something. I'm not familiar with the benefits that these cards offer.

The best choice would be to close them if you really have no use for them.

Re: Any advice for keeping store cards active?

Anonymous — Sat, 18 Feb 2017 23:24:43 GMT

closed cards stay on your reports for 10 years.

Re: Any advice for keeping store cards active?

AverageJoesCredit — Sat, 18 Feb 2017 23:35:28 GMT

Only you can tell if a card is useless but even though ive achieved better cards, Id be a little skittish closing my Macys as i enjoy buying online from them . Thats not to say when its time to scale back i wont cut back my store cards because i will , as basically some good alternatives to buy from these stores without being their card, its just you should ask yourself do you get any benefits from said store or does it hurt me to ke4p open and not use alot. As already said, you could make a purchase and let it sleep abit more . Take a hard look at whats in your profile and make sure youll be ok if you let them go. Good luck

Re: Any advice for keeping store cards active?

Anonymous — Sat, 18 Feb 2017 23:43:27 GMT

For the Macys I would buy a single pair of socks (we can never have too many of those lol, I'm a sock fan) For the Gamestop if you have a family member that's into gaming or yourself, buy a single card like a Playstation Gift Card or a XBox Live points card once every 6 to 12 months. I wouldn't be too worried about keeping them open unless the CLs factor into your overall utilization plans. As somone else mentioned even if closed it would be up to 10 years before they come back and affect your AAoA since they still report when closed, one factor that changes that usually is if the card was fraudulent then it might completely be removed from your CRAs (but in your case, doesn't apply) so if you want to close them to avoid the whole charge and pay to keep active routine go for it.

Re: Any advice for keeping store cards active?

Anonymous — Sun, 19 Feb 2017 00:07:08 GMT

I do not have a problem keeping my store cards active thankfully I was selective when applying and getting approved. I remember the other day Austin pointed out that it's kinda crazy to keep a card open for a free fico score.. Which is the only reason my Fingerhut is still around. I suggest going in to the Macy's clearance rack during a Macy's charge extra percentage off event and shopping away.

Re: Any advice for keeping store cards active?

wasCB14 — Sun, 19 Feb 2017 00:31:35 GMT

How much older are they than the oldest card you use regularly? If just a few months, I'd use major Citi cards and price rewind any department store and video game purchases.

Re: Any advice for keeping store cards active?

austinguy907 — Sun, 19 Feb 2017 00:36:29 GMT

I guess people do pay attn to my rants and raves around here!!!!

Anyway.... KID.... if you have to go out of your way to use a card then it's probably ok to let them close it for non-use whenever that may be. Macy's will normally just drop you to a $100 limit if you let them hang out too long w/o any activity. After another period of time they'll just close it out completely. Gamestop? Never had one or seen much on here about them but, if it doesn't fit then it's time to return it. We worry about silly things like this after we have been through the long journey of building up to where we are today. We get emotional about holding on to pieces of the past like our first this and our first that because someone took a chance and said APPROVED!

Just do whatever feels right to you. LIFE is not about FICO all of the time. As long as you have learned and benefited from the experience then it's ok to LET GO.

Re: Any advice for keeping store cards active?

Chris679 — Sun, 19 Feb 2017 03:08:46 GMT

@Anonymous wrote:
I do not have a problem keeping my store cards active thankfully I was selective when applying and getting approved. I remember the other day Austin pointed out that it's kinda crazy to keep a card open for a free fico score.. Which is the only reason my Fingerhut is still around. I suggest going in to the Macy's clearance rack during a Macy's charge extra percentage off event and shopping away.

Free FICO score is great reason to keep a card open IMO. Assuming there is not fee

Re: Any advice for keeping store cards active?

BirchBarlow — Mon, 20 Feb 2017 18:33:42 GMT

All the more reason not to have store cards.

Re: Any advice for keeping store cards active?

Anonymous — Mon, 20 Feb 2017 19:57:42 GMT

AAOA will NOT go down if you close!!!!