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Elan financial gave me a $1 credit

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Elan financial gave me a $1 credit

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.

Discover It - 19.1K
Citi Double Cash - 16K
AMEX BCP - 35K
Elan Financial - 24.2K
Uber - 25K
Amazon Prime Visa Sig - 9.6K
Fort Knox Platinum - 2.5K
US Bank Cash+ - 14K
Citi AAdvantage PSWE - 21.5K
Message 1 of 21
20 REPLIES 20
Valued Contributor

Re: Elan financial gave me a $1 credit

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! Smiley Happy


TU FICO 8: 741 (7/19) — Ex FICO 8: 739 (7/19) — Opinions are my own and not the views of my employer
Message 2 of 21
Community Leader
Mega Contributor

Re: Elan financial gave me a $1 credit

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 Smiley Sad

EX 759 EQ 774 TU 753


Message 3 of 21
Valued Contributor

Re: Elan financial gave me a $1 credit

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.

500K+ TCL / 800+ FCOs
Message 4 of 21
Contributor

Re: Elan financial gave me a $1 credit

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.

Discover It - 19.1K
Citi Double Cash - 16K
AMEX BCP - 35K
Elan Financial - 24.2K
Uber - 25K
Amazon Prime Visa Sig - 9.6K
Fort Knox Platinum - 2.5K
US Bank Cash+ - 14K
Citi AAdvantage PSWE - 21.5K
Message 5 of 21
Valued Contributor

Re: Elan financial gave me a $1 credit

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.

500K+ TCL / 800+ FCOs
Message 6 of 21
Established Contributor

Re: Elan financial gave me a $1 credit

They write off up to $1.

At least on my two FNBO cards.

$2 would post.

 

FNBO 2% Cashback Visa (20k) / Bank of the West Cashback MC (20k)
US-Bank Cash+ (15k) / FNBO Travel Elite (15k) / Citi Double Cash (18k)
Ficos : 840 / AAoA : 9 yrs / AoOA : 23 Yrs / AoYA : 3
Message 7 of 21
Community Leader
Super Contributor

Re: Elan financial gave me a $1 credit

Using a $1 to try and ward off card closure doesnt show you really want to keep the card lol. If i were the bsnk and i gave that letter and then received a $1 purchase well , being a bank......Smiley Wink
#ChaseCreditCardHobby Enthusiast
2022
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Message 8 of 21
Senior Contributor

Re: Elan financial gave me a $1 credit

Use the card or close it




3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>09/2019 CCT EX 829 TU 848 EQ 837
Jack Webb: "That figures. Now let me see if I got the facts straight here. Cleaning woman Clara Clifford discovered your clean copper clappers kept in a closet were copped by Claude Cooper the kleptomaniac from Cleveland. Now, is that about it?"
Message 9 of 21
Established Contributor

Re: Elan financial gave me a $1 credit


@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.

FNBO 2% Cashback Visa (20k) / Bank of the West Cashback MC (20k)
US-Bank Cash+ (15k) / FNBO Travel Elite (15k) / Citi Double Cash (18k)
Ficos : 840 / AAoA : 9 yrs / AoOA : 23 Yrs / AoYA : 3
Message 10 of 21
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