Help - Chase is cancelling my card for inactivity

[Dalmus]

For the record, if you have a balance on a card that is closed, you simply pay it off according to the terms in effect when you made the purchase.

In this case, you have 0% APR on purchases for a year... anything you buy before the card is closed will be at 0%. You can continue to pay down that balance monthly to take advantage of the offer after the card is closed until the balance is paid off.

[myjourney]

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@Dalmus wrote:
For the record, if you have a balance on a card that is closed, you simply pay it off according to the terms in effect when you made the purchase.

In this case, you have 0% APR on purchases for a year... anything you buy before the card is closed will be at 0%. You can continue to pay down that balance monthly to take advantage of the offer after the card is closed until the balance is paid off.

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True yes you can keep the same terms on a closed card 

However its always best to pay it off ASAP if you can because a closed card showing a balance will cause a significant drop in scores 

[Turbobuick]

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@myjourney wrote:

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@Dalmus wrote:
For the record, if you have a balance on a card that is closed, you simply pay it off according to the terms in effect when you made the purchase.

In this case, you have 0% APR on purchases for a year... anything you buy before the card is closed will be at 0%. You can continue to pay down that balance monthly to take advantage of the offer after the card is closed until the balance is paid off.

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True yes you can keep the same terms on a closed card 

However its always best to pay it off ASAP if you can because a closed card showing a balance will cause a significant drop in scores 

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While the card can't be used for new purchases, it isn't technically a closed account until the debt is paid. There isn't any negative feedback.

[creditguy]

When you contact the EO I sure hope you don't tell them what you said here "I like having a card I don't use" that will end that consideration real quick. I don't get the desperation to hold onto a card because it's from the 90's or because you like having a card you don't use. How could you possibly justify Chase not closing a card that hasn't been used in a decade? You may be nostalgic for this card but chase could care less. It's not personal it's business you gotta use it to keep it, good luck.

[score_building]

omg just use the flippin' card NOW for ANY purchase and hope it resets status to reissue at expiry, regardless of what Chase said...the longer you merely theorize use the closer to shut down...whining to EO, etc goes nowhere-- the card has been inactive for 10 years for heavans sake, that's a lucky run. Chalk it up to experience and use cards every so often and PIF. We don't get to keep cards open indefinitely because we like the age, it's use it or lose it.

[creditguy]

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@score_building wrote:

omg just use the flippin' card NOW for ANY purchase and hope it resets status to reissue at expiry, regardless of what they told you...the longer you merely theorize use the closer you get to shut down...whining to EO, etc will get you nowhere-- the card has been inactive for 10 years for heavans sake, that's a lucky run. Chalk it up to experience and use cards every so often and PIF. We don't get to keep cards open indefinitely because we like the age, it's use it or lose it.

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Now that's putting it bluntly. 

[Anonymous]

Yes, I have had Chase close cards for inactivity, and no, once they've decided to close them, the decision is final.

What brand of Chase card is it?

I have one Chase Flex Rewards card from 2003.  It's worthless to me except for the start date.  After some disuse a few years back, they sent me a message that they were dropping the C/L significantly because it was idle.  I didn't really care too much about the C/L, but I took that as my warning that they might close it, so I put it on my calendar to throw a tiny charge on it at least once every six months, to keep it alive.  Now, just a couple of days ago, I got a letter that they are converting it to a Freedom card.  That's sort of a "who cares," as it will make it a third Freedom card to use.  But actually, this quarter (grocery and warehouse clubs) I might just burn through the $1,500 of bonus spending on the other two Freedom accounts, so that'll make having a third Freedom card useful.  But at the least, I'll no longer have to worry about putting a charge on it every six months; it will just go into rotation with my other two Freedom cards, so it's pretty much guaranteed to get somewhat regular use.

I find the timing of my forced conversion interesting, considering OP's experience.  Chase may be in a spring-cleaning mood.  If I hadn't been putting occasional charges on my old Flex card, I'm guessing I would have gotten a letter this week saying they were closing it, instead of converting it to a Freedom card.

Chris. 

[Anonymous]

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@Turbobuick wrote:

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@myjourney wrote:

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@Dalmus wrote:
For the record, if you have a balance on a card that is closed, you simply pay it off according to the terms in effect when you made the purchase.

In this case, you have 0% APR on purchases for a year... anything you buy before the card is closed will be at 0%. You can continue to pay down that balance monthly to take advantage of the offer after the card is closed until the balance is paid off.

---

True yes you can keep the same terms on a closed card 

However its always best to pay it off ASAP if you can because a closed card showing a balance will cause a significant drop in scores 

---

While the card can't be used for new purchases, it isn't technically a closed account until the debt is paid. There isn't any negative feedback.

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Right, but often when an issuer closes an account, they set the C/L to 0.  Depending on how much overall credit you have, that can mess with your ratios.  And you'll still have one card with a C/L of 0 and a balance of, say, $7,500, which makes the ratio on that card = infinity, and that looks really bad.

Chris.

[taxi818]

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@kdm31091 wrote:

I wouldn't worry too much about it. As stated, the history remains for 10 years, and presumably you have other cards in good standing so this probably will impact you very very little.

Yes, it sucks emotionally to have something taken away, but realistically, you haven't used the thing in years. If it was that important, it would have gotten use. Since it didn't, that indicates it was a useless card anyway, other than the emotional attachment. I wouldn't lose sleep over it.

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Totally agree. Why big loss now? Since you didn't use it. Let it go. And let someone else who will use the limit have it so chase can make some profit.  I guess lesson learned. If you want it use it. 

[Dalmus]

But, within reason, his score does not matter unless he's planning a major purchase soon.

Letting a balance ride at 0% for a few months on a closed card will only hurt for those few months.

Although, realistically, I'm sure he could get a promo APR on his other Chase card which would be better than keeping a balance the closed card, obviously.