Cap one closed

[kdm31091]

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@Anonymous wrote:

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@kdm31091 wrote:

I think the problem is that the "buy a pack of gum a year to keep the card active" thing has become much more common. Even outside of this forum I've seen it recommended on various articles about whether to close unwanted cards etc. Now that the idea of "don't close it, just minimally use it" is becoming common lenders are likely seeing tons of unused credit lines, but not quite as many people closing the account outright. So, maybe the standards will tighten up.

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The numbers of people actually doing this is likely still extremely small. Remember, most people don't have even 4 cards, much less the numbers we amass here, and it's much more likely they're actually using all of their cards. 

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Sure, in the general population it's still a small number, absolutely. But I do think it's become more common to sockdrawer cards and there are more unused lines floating around out there then before.

Even without that, the current enviornment means that unused lines are easy targets for cutting.

[UH_HUH]

Sorry to read about your Capital One

AA @Jnbmom ..I know it will not effect

you and DH that much. Thanks for sharing your story :-)

Cheers

[M_Smart007]

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@Appleman wrote:

I just spent some time loading some money into my Amazon account with cards that have been dormant for a while.

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Very smart move

[M_Smart007]

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@Anonymous wrote:

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@kdm31091 wrote:

I think the problem is that the "buy a pack of gum a year to keep the card active" thing has become much more common. Even outside of this forum I've seen it recommended on various articles about whether to close unwanted cards etc. Now that the idea of "don't close it, just minimally use it" is becoming common lenders are likely seeing tons of unused credit lines, but not quite as many people closing the account outright. So, maybe the standards will tighten up.

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The numbers of people actually doing this is likely still extremely small. Remember, most people don't have even 4 cards, much less the numbers we amass here, and it's much more likely they're actually using all of their cards. 

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A lot easier to use 4 than 50

[Jnbmom]

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@UH_HUH wrote:

Sorry to read about your Capital One

AA @Jnbmom ..I know it will not effect

you and DH that much. Thanks for sharing your story :-)

Cheers

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@UH_HUH 

Thanks Yes it just seems like this was bound to happen to some accounts, whether it is solely for non usage or combined with the current situation.