Credit Card Cancelled By Bank For Not Using?

Anonymous · ‎12-03-2015

I have heard on other boards and some on here that if you have a CC issued and you don't use it not even once the bank can close the card ? Example I have a Lowes Credit Card I got it for an upcoming project but I havent used it at all yet, will Synch Bank cancel this card if i don't use it ? I got it in October my project is scheduled for February if I dont use it until then can it be cancelled and will that hurt my score or my relationship with Synch? Thank You for reading my post, always welcome replies and information. Have a Blessed Dat

Anonymous · ‎12-03-2015

Any issuer might cancel a card for non-use (the CL is somewhat tied up in their financials, and they would rather give it to someone using it and making them money). What varies greatly is the minimum period. Barclays has indicated that the card should be used every three months to avoid cancellation (although you can go much longer), most issuers don't give any guidelines.

But it sounds as if you are talking from Oct to Feb, which should be fine

Anonymous · ‎12-03-2015

I would think not but you could always stop in for a small purchase if your nervous about it. A pack of gum or a magazine perhaps

Anonymous · ‎12-03-2015

@Anonymous wrote:
I have heard on other boards and some on here that if you have a CC issued and you don't use it not even once the bank can close the card ? Example I have a Lowes Credit Card I got it for an upcoming project but I havent used it at all yet, will Synch Bank cancel this card if i don't use it ? I got it in October my project is scheduled for February if I dont use it until then can it be cancelled and will that hurt my score or my relationship with Synch? Thank You for reading my post, always welcome replies and information. Have a Blessed Dat

Hi RJrepo,

Yes the bank can close the card at any time they wish. I am not sure if Lowes falls within this category, but I had 2 Visa cards of mine closed out due to non-use after 1.5 years. Now I know better, and at least make a purchase of a couple of dollars just to show some activity.

Also in addition, they can lower your credit lines as well.

Perhaps someone else can chime in specifically regarding Lowes retail store card.

baller4life · ‎12-03-2015

That's only 4 months. I honestly think you'll be fine. I've never seen Synchrony close a card for 4 months inactivity. More like 1 year. But, if you don't want to takes the chance, you can always buy your trash bags, toilet paper, laundry detergent,etc there monthly to show activity. That's what I do. 😏

Anonymous · ‎12-03-2015

I agree with all of you and your responses i think I will go to Lowes this week and make a purchase of something just to show activity. I definatly dont want a card cancelled or my CL reduced and mess up my UL Thank You all for your advice its very appreciated

SunriseEarth · ‎12-03-2015

@Anonymous wrote:
I agree with all of you and your responses i think I will go to Lowes this week and make a purchase of something just to show activity. I definatly dont want a card cancelled or my CL reduced and mess up my UL Thank You all for your advice its very appreciated

Good point. I've seen a good number of posts where Sync did a CLD for inactivity. IMHO, I don't think only four months of inactivity would result in AA from Sync, but there's no harm in doing a small spend jas an insurance policy.

Anonymous · ‎12-03-2015

Yes I agree the last thing I want is any negative actions on my report I have worked hard to clean it up and maintain it. Thank You for your reply. Have a blessed evening

takeshi74 · ‎12-04-2015

@Anonymous wrote:
I got it in October my project is scheduled for February if I dont use it until then can it be cancelled and will that hurt my score or my relationship with Synch?

See the Closing Credit Cards thread linked in the Helpful Threads sticky for info on impact. As for closure due to inactivity -- that can happen with just about any creditor. If you're concerned about it then confirm with each of your creditors what their specific policy is on the matter as creditors can and do vary on this. IMO people fixate far too much on "relationship". Even after a CLD or closure if your credit qualifies you can open a new account and get an increase. "Relationship" may help in some cases but don't rely on it to make or break any decision on its own.

Anonymous · ‎12-04-2015

I don't think they'd close you for 4-5 months of inactivity. Usually 6 months to a year is a good guideline to follow.

If you're worried though, buy a small item or $1 worth of gas next time you fill up. :-)