topic Re: How do you keep all of your CC's open? in Credit Cards

How do you keep all of your CC's open?

Anonymous — Wed, 15 Oct 2014 14:30:54 GMT

So after a certain amount of time, i suppose a creditor will close your account for inavtice use... I'm not talking about VISA cards and Mastercards, i'm talking about store cards, i myself can use all of my major cards, and do pretty well! But, what about store cards? What are the limit of time you go without using it before you jump back in and use it? I have over 30 cards, keeping up with those monthly not only would kill me financially, but is just to big of a pain in the butt. So, how often do you use your store cards? Have you had any closed for inactivity?

Mainly referring to @CreditAddict and @Ron1!! Let me know!!

Re: How do you keep all of your CC's open?

takeshi74 — Thu, 16 Oct 2014 15:36:10 GMT

Regardless of whether the card is credit or store you have to verify with each creditor to determine their policy regading closure due to inactivity. Don't rely on generalization or polling.

@Anonymous wrote:
I have over 30 cards, keeping up with those monthly not only would kill me financially, but is just to big of a pain in the butt.

You have to sort out what works for you. If you can't manage over 30 cards then you might want to consider trimming down to a number that you can manage. Or just accept that some will be closed if you can't keep them sufficiently active.

Re: How do you keep all of your CC's open?

Chris679 — Fri, 17 Oct 2014 02:28:12 GMT

I prefer to let nature take its course. If they close it then you probably didn't need it. I have had one card close itself, Walmart after 2+ yrs of inactivity. They did CLD two months in a row and closed it the next month. If I had been paying attention I could have kept it open but I wasn't so I guess I didn't need it anymore.

Re: How do you keep all of your CC's open?

JediNeo — Fri, 17 Oct 2014 07:41:52 GMT

Going by your signature I hope you didn't obtain all 30 cards in five months (May 2014). Perhaps you can pick a couple of store cards a month, buy something cheap and PIF before leaving the store.

Re: How do you keep all of your CC's open?

Anonymous — Fri, 17 Oct 2014 07:50:32 GMT

I don't buy too much at Best Buy but want to make sure my card stays open just because of the great financing. I use it every six months to buy a water filter for my refrigerator.

Re: How do you keep all of your CC's open?

taxi818 — Fri, 17 Oct 2014 11:25:01 GMT

@Anonymous wrote:
So after a certain amount of time, i suppose a creditor will close your account for inavtice use... I'm not talking about VISA cards and Mastercards, i'm talking about store cards, i myself can use all of my major cards, and do pretty well! But, what about store cards? What are the limit of time you go without using it before you jump back in and use it? I have over 30 cards, keeping up with those monthly not only would kill me financially, but is just to big of a pain in the butt. So, how often do you use your store cards? Have you had any closed for inactivity?

@Mainly referring to @Creditaddict and @Ron1!! Let me know!!

Ok I will say what I do. Specially for store cards. Things we all need. Example socks and underware. Every 4 months. I order a 3 pack of briefs on 1 card. Other card. Tee shirts. Other card socks. They all got activity. So no problem. Wally. I buy case of water. And take 60 cash out. And so on.

Re: How do you keep all of your CC's open?

Anonymous — Fri, 17 Oct 2014 12:44:59 GMT

Yikes- NEVER take cash out with a credit card. You'll immediately get hit at the cash advance APR rate- usually 24% or so.

Re: How do you keep all of your CC's open?

taxi818 — Fri, 17 Oct 2014 14:00:49 GMT

@Anonymous wrote:
Yikes- NEVER take cash out with a credit card. You'll immediately get hit at the cash advance APR rate- usually 24% or so.

good one. We all know that. But read my post carefully. I said from Wally. Walmart. There is no cash advance charge. Period. For walmart. It's a purchase. Also for the discover it card. Cash over purchase. To keep active. Not one dime in interest. We are talking of store cards.