Inactive Card... Use it or Lose it?

[Anonymous]

Thanks for sharing your experience, UpperNwGuy! If you don’t mind me asking, had your score dropped due to using it?

[UpperNwGuy]

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@SouthJamaica wrote:

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@UpperNwGuy wrote:

I was lazy and let two of my cards sit in the sock drawer for nine months.  I used them both earlier this month.  A few days ago I was alerted by Experian that two of my inactive cards had recently been used.  That surprised me because I didn't realize that the credit bureaus were tracking the active/inactive status of my cards.

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I believe that was a user-configured alert -- i.e. one that you yourself have requested from MyFICO.

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Nope.  My Experian service is not via myFICO.

[AverageJoesCredit]

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@wasCB14 wrote:

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@AverageJoesCredit wrote:
Store cards often can go long times no use. Its always best to use at least once a year. You should be fine to go buy something and pif it . Sometimes, going certain times without using a credit card, especially a main cc like a visa, mc or Amex, it might cause account scrutiny or maybe trigger a fraud algorithm. For instance out of the blue you put on a 4k charge and had no use for along time. Not saying always but that can happen.

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Even with frequent use, a $4k purchase at Kohl's might be a major red flag!

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lol, especially if your credit limit is 3k😆

[pinkandgrey]

I always say: get rid of cards you don’t want or use. Of course there are some reasons for keeping it open, but personally I would rather simplify my finances rather than save a few points for my score. Plus it won’t affect your AAoA for years. CLOOOOSEEE away lol

[longtimelurker]

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@Anonymous wrote:
Thanks for sharing your experience, UpperNwGuy! If you don’t mind me asking, had your score dropped due to using it?

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Using a card can impact score in a very few ways:

1) Utilization.   If you put a large charge (relative to card credit limit) and let it report, you may get a utilization hit (and if it's large compared to your total credit limit, that as well).   However, the point drop will go away the following cycle.   And if you really need to maximize score, you can pay off before the statement cuts.

2)  If you let it report, you have an extra card reporting a balance.   If you had just one card reporting before, this could cause a small drop.  (if none reported, it might cause a gain).   If you had more than one card reporting, it might not matter at all (or at most a small drop).   Again, this will go away next cycle or can be avoided entirely by paying before statement cuts.

So, don't be very worried.

[Anonymous]

Thank you for the useful information, longtimelurker! I understand when it comes to FICO Scores nothing is set in stone however, I appreciate the pointers and will keep in mind.

[UpperNwGuy]

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@Anonymous wrote:
Thanks for sharing your experience, UpperNwGuy! If you don’t mind me asking, had your score dropped due to using it?

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Not by any amount I would notice.  My scores at all three bureaus fluctuate up and down about 5 points a month based on my credit card spending and payments for that month.  I really don't care what the scores do as long as they stay above 800.  I don't practice AZEO.  In a normal month, 2 cards close with balances.  I've had months in which 4-5 cards have had balances.  It doesn't seem to affect the score.