cancel
Showing results for 
Search instead for 
Did you mean: 

Using credit cards

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Regular Contributor

Using credit cards

Will Total VISA or Merrick VISA close my accounts if I do not use them?  I just got a Wells Fargo Secured card.  And since I bank with them as well I'm planning on only using it since paying it will be super quick from my WF account.

 

Second question. I know I need to have 7.99% of my credit shown as being used when reported to the CRAs.  Is that of my total credit combined accross all three cards or is that total credit from whatever card I choose to report?  So total combined credit is $1,150.  And my WF Secured card is $300.  So I would leave $91.88 on my WF Secured card if it's combined or $23.97 if it's just of anyone one card. And in this case it'll be my WF Secured.  

Message 1 of 6
5 REPLIES 5
Senior Contributor

Re: Using credit cards


@nomadic_traveler wrote:

Will Total VISA or Merrick VISA close my accounts if I do not use them?  I just got a Wells Fargo Secured card.  And since I bank with them as well I'm planning on only using it since paying it will be super quick from my WF account.

 

Second question. I know I need to have 7.99% of my credit shown as being used when reported to the CRAs.  Is that of my total credit combined accross all three cards or is that total credit from whatever card I choose to report?  So total combined credit is $1,150.  And my WF Secured card is $300.  So I would leave $91.88 on my WF Secured card if it's combined or $23.97 if it's just of anyone one card. And in this case it'll be my WF Secured.  


You can use all the cards as long as one reports around 2-5% each month after statement date. Then pay it off. The others pay off before statement date. So let your WF secured report about 20 bucks each month and then PIF before the due date. The others 0. Otherwise known as AZEO.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 6
Regular Contributor

Re: Using credit cards

Ahh ok. 

 

But Merrick and Total won't close the accounts if I don't use them is my other question? I really only have those two for the rebuild process and also for emergencies.  So I'll only use the WF Secured.  I'll phase the the other two out as soon as I can honestly. Ha.  

Message 3 of 6
Senior Contributor

Re: Using credit cards


@nomadic_traveler wrote:

Ahh ok. 

 

But Merrick and Total won't close the accounts if I don't use them is my other question? I really only have those two for the rebuild process and also for emergencies.  So I'll only use the WF Secured.  I'll phase the the other two out as soon as I can honestly. Ha.  


I haven't seen to the best of my being on here closures from either one of those cards. But to be safe. Every 6 months grab a brewski and a beef jerky at 7-11 and pay it off. LOL!!!! Smiley Happy





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 4 of 6
Established Member

Re: Using credit cards

Merrick Bank closed my credit card with them for not using it.  They warned me and told me that if I didn't use the card (after about 3 years of not using it) that if I didn't use it within a month, they would close it.  And they did. 

Message 5 of 6
Senior Contributor

Re: Using credit cards


@hotdogo wrote:

Merrick Bank closed my credit card with them for not using it.  They warned me and told me that if I didn't use the card (after about 3 years of not using it) that if I didn't use it within a month, they would close it.  And they did. 


Three yrs is a long time. Some do it much sooner. Could have done the brewski/beef jerky trick x2 a year and avioded it.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.