Comenity: Use it or lose it!

[score_building]

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@Anonymous wrote:

So are you guys just "spending" money on things you dont really need to keep them open? Sounds like it's not worth it to me. I have one Comenity card and that's for Victoria Secret should they send me a letter saying if I don't use it, I'll lose it then they can have the card back! I refuse to spend money just to spend money or trying to keep an account open. I don't know about others but I like to stick to my budget and save my money. My cards are just there so I can earn cash back, rewards and stuff. 

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I don't apply for cards if not going to use them, or where am not a regular customer, so this isn't an issue.

[B335is]

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@Anonymous wrote:

So are you guys just "spending" money on things you dont really need to keep them open? Sounds like it's not worth it to me. I have one Comenity card and that's for Victoria Secret should they send me a letter saying if I don't use it, I'll lose it then they can have the card back! I refuse to spend money just to spend money or trying to keep an account open. I don't know about others but I like to stick to my budget and save my money. My cards are just there so I can earn cash back, rewards and stuff. 

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I use my cards primarily like a debit card wherever they're accepted from gas, groceries, cell phone, etc.., so no I'm not using them to just buy junk I don't need.  If you aren't PIF a rewards card, you're negating the rewards.  Some people like to keep cards active because of utilization padding and/or account history.

[UncleB]

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@Anonymous wrote:

So are you guys just "spending" money on things you dont really need to keep them open? Sounds like it's not worth it to me. I have one Comenity card and that's for Victoria Secret should they send me a letter saying if I don't use it, I'll lose it then they can have the card back! I refuse to spend money just to spend money or trying to keep an account open. I don't know about others but I like to stick to my budget and save my money. My cards are just there so I can earn cash back, rewards and stuff. 

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I don't think anybody here advocates spending money only to keep a credit line alive. 

I have a large (to me) Lowe's credit line that is generally unused but I know in the future I will have a need for it.  To make sure it stays open, I make a trivial purchase every four to six months at my local Lowe's - my last purchase was $4.  It's not an amount of money that impacts my budget; it can even be for a soda or a candy bar.

If the account was going to be useless indefinitely I would simply allow it to close, but since I know I will have a need for it it's worth the minimal "effort" to keep it alive.  Spending significant amounts of money at a store or online merchant soley for a credit line would of course be foolish, though.

[wasCB14]

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@score_building wrote:

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@Anonymous wrote:

So are you guys just "spending" money on things you dont really need to keep them open? Sounds like it's not worth it to me. I have one Comenity card and that's for Victoria Secret should they send me a letter saying if I don't use it, I'll lose it then they can have the card back! I refuse to spend money just to spend money or trying to keep an account open. I don't know about others but I like to stick to my budget and save my money. My cards are just there so I can earn cash back, rewards and stuff. 

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I don't apply for cards if not going to use them, or where am not a regular customer, so this isn't an issue.

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Unless the card in question:

1. has a seldom-needed but important purpose or feature (like primary Chip+PIN or travel perk), or

2. is much older than other accounts

then I think it's best to just let a card die off for inactivity (if a person has good alternatives).

Humu, using several Comenity cards every month just to avoid closure sounds about as pleasant and financially rewarding as unnecessary dental work.

[Anonymous]

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@wasCB14 wrote:

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Humu, using several Comenity cards every month just to avoid closure sounds about as pleasant and financially rewarding as unnecessary dental work.

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Sorry that you seem to have a negative approach, but it's actually extremely easy. And I don't use them just to avoid closure. There are other reasons I use them for the time being as well that benefit me. Have a great day!

[taxi818]

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@UncleB wrote:

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@Anonymous wrote:

So are you guys just "spending" money on things you dont really need to keep them open? Sounds like it's not worth it to me. I have one Comenity card and that's for Victoria Secret should they send me a letter saying if I don't use it, I'll lose it then they can have the card back! I refuse to spend money just to spend money or trying to keep an account open. I don't know about others but I like to stick to my budget and save my money. My cards are just there so I can earn cash back, rewards and stuff. 

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I don't think anybody here advocates spending money only to keep a credit line alive. 

I have a large (to me) Lowe's credit line that is generally unused but I know in the future I will have a need for it.  To make sure it stays open, I make a trivial purchase every four to six months at my local Lowe's - my last purchase was $4.  It's not an amount of money that impacts my budget; it can even be for a soda or a candy bar.

If the account was going to be useless indefinitely I would simply allow it to close, but since I know I will have a need for it it's worth the minimal "effort" to keep it alive.  Spending significant amounts of money at a store or online merchant soley for a credit line would of course be foolish, though.

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Im not advocating it But for sure i buy socks every 6 months to keep my jcrew alive.

[score_building]

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@taxi818 wrote:

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@UncleB wrote:

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@Anonymous wrote:

So are you guys just "spending" money on things you dont really need to keep them open? Sounds like it's not worth it to me. I have one Comenity card and that's for Victoria Secret should they send me a letter saying if I don't use it, I'll lose it then they can have the card back! I refuse to spend money just to spend money or trying to keep an account open. I don't know about others but I like to stick to my budget and save my money. My cards are just there so I can earn cash back, rewards and stuff. 

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I don't think anybody here advocates spending money only to keep a credit line alive. 

I have a large (to me) Lowe's credit line that is generally unused but I know in the future I will have a need for it.  To make sure it stays open, I make a trivial purchase every four to six months at my local Lowe's - my last purchase was $4.  It's not an amount of money that impacts my budget; it can even be for a soda or a candy bar.

If the account was going to be useless indefinitely I would simply allow it to close, but since I know I will have a need for it it's worth the minimal "effort" to keep it alive.  Spending significant amounts of money at a store or online merchant soley for a credit line would of course be foolish, though.

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Im not advocating it But for sure i buy socks every 6 months to keep my jcrew alive.

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They have enough good sales and well-annointed clothing across categories, for me to find other things besides just socks from time to time but whatever works, I agree it's a keeper.

[BeeH11]

Ugh! I hope this isn't something they are going to be doing on all their cards! My Express card is my oldest card and I dont want to close it. I don't shop there much anymore and I havent used it in probably over a year at least. I don't want to have to go buy something I don't need either to keep it open.

[score_building]

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@BeeH11 wrote:
Ugh! I hope this isn't something they are going to be doing on all their cards! My Express card is my oldest card and I dont want to close it. I don't shop there much anymore and I havent used it in probably over a year at least. I don't want to have to go buy something I don't need either to keep it open.

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Use it or lose it is SOP, not just a Comenity thing.

The majority of issuers just don't fuss with a heads up notification...returning a purchase is an option, since it generally counts as use.

[Imperfectfuture]

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@Anonymous wrote:

I got a letter from Key Bank last week that they're going to cancel my debit card because I haven't used it "in a year". Hello? I've had the account over 10 years and I've never used the card. 

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My CU does that as well.  Wonder if Alliant will do it?  I need to occasionally brush off the CU card to use (wonders if points expire).