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I received a letter in the mail that my card would be closed if I didn't use it, so I bought a $1 Amazon gift card for myself and redeemed it. Several days later I noticed a $1 credit from Elan, my balance was cleared and I received 2 reward points.
Should I still be worried that my card may be closed? It has over 4 years of credit history, but I have better cards to use.
It's pretty common for banks to write off very small balances. BofA is infamous for doing this on the BBR. (On this retired product, cardholders got $25 or $30 each quarter for making a given payment each month. Some have reported getting credits of almost $10. If there's no payment needed, they don't pay the quarterly bonus.)
If your card sees other usage, I wouldn't worry. If not, it's good to put at least one decent charge through regularly. Every year will keep most cards open, but don't be surprised if you get CLD'd.
Edit: Welcome to the forums!
Hi and welcome to the forums
Have you called them and asked about the status?
I dont think anyone here is going to be able to answer your question
Some cards credit balances under $5 as a courtesy. Maybe use it for something a bit more? Otherwise it's a gamble on whether they will still close it. Usually in my book at least it has to generate a statement to be considered activity.
When in doubt you can setup Amazon for the auto-reload option for $X to keep things active or setup a reminder to do it yourself.
Thanks for the replies, I was just wondering if someone had dealt with a situation like this. I'll make another purchase to make sure it's not closed.
Most of us have dealt with it with other lenders. It's hard to specifically say because ELAN is a SERVICER branch of US Bank that provides cards to smaller FI's like CU's and smaller Banks. Just to be on the safe side put a little bit of spend that doesn't get cancelled out and you should be good unless they made a final decision to not renew the card for non-use.
They write off up to $1.
At least on my two FNBO cards.
$2 would post.
Use the card or close it
@Meanmchine wrote:Use the card or close it
Now I understand your forum name !
However, I agree with you.
No need to keep a card that does not fit your needs.