topic Re: How often should I use each card to keep them from closing? in Credit Cards

How often should I use each card to keep them from closing?

DI — Sat, 05 Dec 2009 16:46:03 GMT

After July 2010, I plan to relocate for school and won't be using no more than one card. Do I risk my cards being closed without using them for a year and a half?

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Re: How often should I use each card to keep them from closing?

Anonymous — Sat, 05 Dec 2009 18:39:22 GMT

DI wrote:

After July 2010, I plan to relocate for school and won't be using no more than one card. Do I risk my cards being closed without using them for a year and a half?

AMEX Blue Cash
Bank of America World Points
Capital One Platinum Rewards
Citi Platinum Select
Discover More Cashback
GM HSBC
Kroger 123 Rewards
PenFed Cah Rewards
Sears Store Card
State Farm Cash Rewards
Target Visa

A year and a half of zero use, and I'd say that even the most secure, patient, and flexible lender would close the account. You might want to spread your usage around, and set up some recurring bills that you PIF on those cards. Even if you have to rotate it a bit.

Re: How often should I use each card to keep them from closing?

Anonymous — Sun, 06 Dec 2009 04:13:06 GMT

I have the exact same concern... I have some cards that I really want to keep but I do not use them really pften as I just opened some new ones with better rewards... Do you think a monthly insurance bill on 1 Citi and a cell phone bill on another Amex will keep them utilized enough in order not to get the CL cut?

Re: How often should I use each card to keep them from closing?

Anonymous — Sun, 06 Dec 2009 07:37:56 GMT

Yes, you would lose many of your accounts.

The best way to avoid this is to choose a small recurring bill for each major. Then set that major up on auto pay draft to PIF each statement. Then you don't have to worry about use.

Re: How often should I use each card to keep them from closing?

Anonymous — Sun, 06 Dec 2009 15:56:22 GMT

My recommendation would be to use each card at least once every three months. It can be for something small, and something you'd pay for anyway out of cash, like one trip to the grocery store or one tank of gas. Just pay it when the bill comes. No harm to you, and usage of your cards is demonstrated to the cc companies. The cards will not look "dormant" to them.

Re: How often should I use each card to keep them from closing?

haulingthescoreup — Sun, 06 Dec 2009 16:10:13 GMT

Once/ three months on bank cards, and once/ six months on store cards.

Once every month or two on HSBC/ Orchard bank cards, which seem to have the shortest patience of all.

DI, now that you're well into the juggling phase, I think you're going to find yourself eyeing a few cards as potential candidates for closure. Been there, done that, got the t-shirt.

Re: How often should I use each card to keep them from closing?

Anonymous — Sun, 06 Dec 2009 16:19:04 GMT

Be particularly mindful of HSBC. They are famous for closing disused cards without notice after three months. There is rarely any recourse when a card closed for disuse other than to reapply and open a new account. When it comes to revolving credit either use it or lose it!

Re: How often should I use each card to keep them from closing?

DI — Sun, 06 Dec 2009 16:30:16 GMT

@Anonymous wrote:
Be particularly mindful of HSBC. They are famous for closing disused cards without notice after three months. There is rarely any recourse when a card closed for disuse other than to reapply and open a new account. When it comes to revolving credit either use it or lose it!

I won't care if HSBC decides to close my account. Situations like that is why I have many cards. It lightens the burden to have to play by one particular banks' rules. If one bank decides to close my account, I can just turn to the next.

Re: How often should I use each card to keep them from closing?

Anonymous — Sun, 06 Dec 2009 23:16:41 GMT

So do you think an 80$ bill taken off 10k Citi line and PIF every month will keep the account "active enough" in order to keep the line from being cut?

Re: How often should I use each card to keep them from closing?

Anonymous — Sun, 06 Dec 2009 23:20:24 GMT

@Anonymous wrote:
So do you think an 80$ bill taken off 10k Citi line and PIF every month will keep the account "active enough" in order to keep the line from being cut?

Yes. I charge $5/month to a Citi card with a $16K CL. No problem.

Re: How often should I use each card to keep them from closing?

Anonymous — Mon, 07 Dec 2009 03:39:56 GMT

@Anonymous wrote:
So do you think an 80$ bill taken off 10k Citi line and PIF every month will keep the account "active enough" in order to keep the line from being cut?

Lexa -

We are talking about activity to keep an account open, not to avoid a CLD. CLD's are related to the individual circumstances of an account. Sometimes no amount of activity is sufficient to avoid a CLD.

Re: How often should I use each card to keep them from closing?

DI — Mon, 07 Dec 2009 16:51:04 GMT

I'll figure something out to keep my accounts active.

Re: How often should I use each card to keep them from closing?

haulingthescoreup — Tue, 08 Dec 2009 00:04:37 GMT

lol, if you're in Miami, there should be plenty of things to pay for.

Congrats on your move!

Re: How often should I use each card to keep them from closing?

DI — Tue, 08 Dec 2009 00:07:41 GMT

@haulingthescoreup wrote:
lol, if you're in Miami, there should be plenty of things to pay for.

Congrats on your move!

Not there yet. I won't be there until August 2010. I plan and contemplate things way ahead of time. It keeps me focused.

Re: How often should I use each card to keep them from closing?

cobaltnv — Mon, 14 Dec 2009 22:05:35 GMT

I just used my Sears card for the first time in 23 months--it was still active. Your experience may vary, but I would say you are probably ok letting your Sears card stay dormant for 18 months.

@DI wrote:

After July 2010, I plan to relocate for school and won't be using no more than one card. Do I risk my cards being closed without using them for a year and a half?

AMEX Blue Cash
Bank of America World Points
Capital One Platinum Rewards
Citi Platinum Select
Discover More Cashback
GM HSBC
Kroger 123 Rewards
PenFed Cah Rewards
Sears Store Card
State Farm Cash Rewards
Target Visa

Re: How often should I use each card to keep them from closing?

DI — Mon, 14 Dec 2009 22:12:49 GMT

@cobaltnv wrote:
I just used my Sears card for the first time in 23 months--it was still active. Your experience may vary, but I would say you are probably ok letting your Sears card stay dormant for 18 months.

Thanks for letting me know that. I don't think I'll be needing any new tires any time soon. Maybe, I'll charge a new car battery from there if I decide to not get it from Wal-Mart.

Re: How often should I use each card to keep them from closing?

Anonymous — Mon, 14 Dec 2009 22:30:10 GMT

cobaltnv wrote:
I just used my Sears card for the first time in 23 months--it was still active. Your experience may vary, but I would say you are probably ok letting your Sears card stay dormant for 18 months.

Did they ask you any questions at POS when you used your card after so long? Did you get any impression that the account had been suspended and needed to be reactivated?

Re: How often should I use each card to keep them from closing?

cobaltnv — Tue, 15 Dec 2009 00:28:56 GMT

@Anonymous wrote:
cobaltnv wrote:
I just used my Sears card for the first time in 23 months--it was still active. Your experience may vary, but I would say you are probably ok letting your Sears card stay dormant for 18 months.
Did they ask you any questions at POS when you used your card after so long? Did you get any impression that the account had been suspended and needed to be reactivated?

I used it for an online purchase (not with sears) with no trouble. I should mention that this is the Sears Mastercard, not the store card.

Re: How often should I use each card to keep them from closing?

Anonymous — Tue, 15 Dec 2009 00:31:35 GMT

Perfect. Thank you!

Re: How often should I use each card to keep them from closing?

DI — Tue, 15 Dec 2009 00:53:27 GMT

I just thought about what I can charge to my Sears' card since I haven't used it since Sept. I need more cologne.