topic Re: Would any bank close the Credit Line due to Inactivity in current US economic status? in Credit Cards

Would any bank close the Credit Line due to Inactivity in current US economic status?

Anonymous — Thu, 16 Oct 2014 18:14:57 GMT

In current US economic status - which bank do you think will close the Credit Cards due to inactivity?

I currently have atleast 1 card from:

Wells Fargo

Citi

Chase

Capital One

Discover

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Desmoire — Thu, 16 Oct 2014 18:17:06 GMT

Any TL can be closed due to inactivity. Its up to the CC company how long they are willing to let a TL stay inactive before closing it. I had carecredit for 12 months before they closed it. I have heard on these forums its not uncommon for CC companies to close a dormant card after 6 months.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

sccredit — Thu, 16 Oct 2014 18:20:11 GMT

Happens all the time. I think I am going to do some house cleaning on mine. Might cut my open lines by 25%-30% but I won't have to worry abut using cards just to look good.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

taxi818 — Thu, 16 Oct 2014 21:45:35 GMT

Yes. all of them will close if no activity. does not matter how the economy is. if you are not using. they are not making money. so they will give it to someone who will use.

its just that simple.buy a donut once a month. and a coffee. and your credit line will be preserved.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

coldnmn — Thu, 16 Oct 2014 21:50:08 GMT

@taxi818 wrote:
Yes. all of them will close if no activity. does not matter how the economy is. if you are not using. they are not making money. so they will give it to someone who will use.
its just that simple.buy a donut once a month. and a coffee. and your credit line will be preserved.

+1 even buying something small every few months but not more then 6 months should be good.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

gpfirestone — Thu, 16 Oct 2014 22:09:40 GMT

If your other cards are reporting high they may see your available credit with them as a greater liability. That is one reason. No idea why in your particular case since you haven't given enough info.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Chris679 — Thu, 16 Oct 2014 23:00:45 GMT

I have gone a year or two without use on most of my cards and only had Walmart finally close after more than 2 years of inactivity. This is another thing I gat gets blown way out of proportion. No major company is closing their card after 6 months due to only inactivity.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

taxi818 — Thu, 16 Oct 2014 23:04:16 GMT

No one said at 6 minutes months you are closed. In fact most can go a year and be fine. The point is. At that point. You are playing with fire if you want the credit line. Many reported 5 years without close. Others 4 months. Simple. Ymmv.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Anonymous — Thu, 16 Oct 2014 23:08:52 GMT

@taxi818 wrote:
No one said at 6 minutes months you are closed. In fact most can go a year and be fine. The point is. At that point. You are playing with fire if you want the credit line. Many reported 5 years without close. Others 4 months. Simple. Ymmv.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Anonymous — Thu, 16 Oct 2014 23:22:42 GMT

@Anonymous wrote:
@taxi818 wrote:
No one said at 6 minutes months you are closed. In fact most can go a year and be fine. The point is. At that point. You are playing with fire if you want the credit line. Many reported 5 years without close. Others 4 months. Simple. Ymmv.
+1

GE/Synch recently CLD our JCP card for non-use.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Chris679 — Thu, 16 Oct 2014 23:23:06 GMT

If you are really concerned with keeping a card open pull it out once a year and use it.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Anonymous — Thu, 16 Oct 2014 23:26:06 GMT

@Anonymous wrote:
@Anonymous wrote:
@taxi818 wrote:
No one said at 6 minutes months you are closed. In fact most can go a year and be fine. The point is. At that point. You are playing with fire if you want the credit line. Many reported 5 years without close. Others 4 months. Simple. Ymmv.
+1
GE/Synch recently CLD our JCP card for non-use.

I'm sure you were heartbroken.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Anonymous — Thu, 16 Oct 2014 23:34:18 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@taxi818 wrote:
No one said at 6 minutes months you are closed. In fact most can go a year and be fine. The point is. At that point. You are playing with fire if you want the credit line. Many reported 5 years without close. Others 4 months. Simple. Ymmv.
+1
GE/Synch recently CLD our JCP card for non-use.
I'm sure you were heartbroken.

In tears, my friend.

In tears!

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Anonymous — Fri, 17 Oct 2014 00:49:03 GMT

I understand why anyone would let a bank close a card. Just charge something every couple months. A cup of coffee. Anything. How hard is that? Unless you don't care if your cards get closed.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Anonymous — Fri, 17 Oct 2014 00:51:18 GMT

@Anonymous wrote:
I understand why anyone would let a bank close a card. Just charge something every couple months. A cup of coffee. Anything. How hard is that? Unless you don't care if your cards get closed.

With store cards however?

What if you don't need anything, or the rewards on another card are better.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Chris679 — Fri, 17 Oct 2014 00:56:06 GMT

To me pulling a card out every couple months to show activity is way too much work. The credit card companies serve the customer not the other way around.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

taxi818 — Fri, 17 Oct 2014 00:59:38 GMT

Then why waste the effort to apply in the first place. Simple enough. So in that case. Just call. Cancel. And free up space in the wallet. That hp is not going anywhere anyway.

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Anonymous — Fri, 17 Oct 2014 01:03:20 GMT

I hear you on the store cards. It's one reason I don't like store cards. As for the rewards being better on another card if you use it just to buy a cup of coffee how much rewards are you really losing?

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

Anonymous — Fri, 17 Oct 2014 01:05:36 GMT

@Chris679 wrote:
To me pulling a card out every couple months to show activity is way too much work. The credit card companies serve the customer not the other way around.

If your not using their card your not much of a customer

Re: Would any bank close the Credit Line due to Inactivity in current US economic status?

taxi818 — Fri, 17 Oct 2014 01:06:52 GMT

When are card no longer has use as far as me buying something. It still has one valuable aspect. My credit card utilization. So even if store card or any other kind of card. It's all revolving for fico. Therefore. The cup of coffee is not for the reward the card offers. But for my overall util in my fico. Unless it is so low limit. Then off with its head☺️