Credit Card use

[babbles]

So I now have multiple cards totally 84.6k and i' ve heard of cards being closed involuntarily .   How do some of you use your multiple credit cards to keep them active and at what point will the lender close your card due to inactivity??  Thanks for any input or advice!!

[Anonymous]

For my cards that I want to keep, I put them on life support by setting up a yearly or bi-annual payment to charities that I support. Most offer recurring payment plans.

[SouthJamaica]

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@babbles wrote:

So I now have multiple cards totally 84.6k and i' ve heard of cards being closed involuntarily .   How do some of you use your multiple credit cards to keep them active and at what point will the lender close your card due to inactivity??  Thanks for any input or advice!!

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1. I try to use each card at least once each month.

2. I keep a record of my accounts, so I don't lose track of upcoming payment dates and closing dates.

3. Lenders differ on their tolerance for total inactivity, but I'm a nervous sort of person so I don't test it; I just make sure I use it once a month. Generally it seems most lenders fall into the 3 month to 6 month range before they start getting testy, or worse.

4. I get rid of cards I have no use for, so it's not really difficult for me to use the ones I have, since I have each of them for a reason.

[FormerCollegeDJ]

It depends on the card issuer and I think to a lesser degree on your credit history (more leeway in the latter case if you have a longer, stronger history).  Most issuers will consider closing cards after 12 or more months of inactivity, but some issuers will do so after 6 months or even less.  Additionally some issuers will send you a warning email that they will close your card if you don't use it (as an example, I know Bank of America does), while others will do so without warning.

One other thing I'll note is American Express is in my experience the most lax about closing cards.  I know both firsthand (i.e. myself) and secondhand people who have not used Amex cards for years and not had them closed.

[babbles]

Nice! one thing about the AMEX card, I have one from NFCU and one from USAA but the one from USAA has a shorter statement cycle it seems, maybe not but I think that one is the one you have to pay off your balances that month, I didn't read the fine print well enough I guess and accured about $12 in interest on $213, it broke my, meant to zero it out before it cycled!

[Anonymous]

Every 3-4 months I hop on Amazon and throw $1 gift card reloads on each one I don't use regularly. 

[Mr_Mojo_Risin]

I always make at least one swipe a month on my low spend cards.

Now, I only have 5 cards, it's not a problem for me to spread around some spend but only heavily use 2 cards.

[FormerCollegeDJ]

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@babbles wrote:

Nice! one thing about the AMEX card, I have one from NFCU and one from USAA but the one from USAA has a shorter statement cycle it seems, maybe not but I think that one is the one you have to pay off your balances that month, I didn't read the fine print well enough I guess and accured about $12 in interest on $213, it broke my, meant to zero it out before it cycled!

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RE: American Express cards not being canceled, I'm referring to Amex issued cards not Amex network cards.

The issuer (i.e. financial institution issuing the card) makes the determination whether a card is canceled, not the network provider.

[Citylights18]

I couldn't care less if they go ahead and close my cards or not.

Since I have a TCL of close to $500k if they did close a few it might it easier for new apps. 

The only one that might close a card on me is Citi if I don't use it for a year. Its been a key card in my AoA calcuation since I've had it for 9 years compared to an average AoA of around 6. But I could live with out it at this point.

[MrDFinance]

Outside of putting small charges on them Periodically I have a couple of cards (Smallest limits)  I lend out to my Siblings who are not in the same position as me.....I added them as a authorized user so they can get the history and help there credit and then they use the card with the stipulation that they pay me back whatever they use within a 2 week period (Any mishaps ends the agreement) ...

I get extra cash back and they get to grow there credit and have some leverage to use themselves ...Just what I personally do to keep everything flowing with purpose ...