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Just a friendly reminder for those that want to keep cards from closing for inactivity.

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PandaGirl77
Regular Contributor

Re: Just a friendly reminder for those that want to keep cards from closing for inactivity.

Can anyone link to the best topic about which cards will close due to inactivity and after how long? Thanks!









Message 101 of 115
Gmood1
Super Contributor

Re: Just a friendly reminder for those that want to keep cards from closing for inactivity.

@PandaGirl77 

So far the only FI in my signature that notifies me that I haven't used their cards in a while. And hint hint if I don't it will be closed is FNBO. 

That's roughly six months after no use.

I'd think you'd be pushing it with Synchrony to go passed this unless it's care credit. 

Message 102 of 115
Remedios
Credit Mentor

Re: Just a friendly reminder for those that want to keep cards from closing for inactivity.


@Gmood1 wrote:

@PandaGirl77 

So far the only FI in my signature that notifies me that I haven't used their cars in a while. And hint hint if I don't it will be closed is FNBO. 

That's roughly six months after no use.

I'd think you'd be pushing it with Synchrony to go passed this unless it's care credit. 


 

@Gmood1  there is still one card missing in your sig on mobile. It's as if a baby bear took a bite out of otherwise nice rectangle. 

Lie to me and put a card there, any card. 

Message 103 of 115
Gmood1
Super Contributor

Re: Just a friendly reminder for those that want to keep cards from closing for inactivity.

@Remedios😂😂😂😂😂😂

You're killing me. I thought a baby goat took a bite out of it.😉😆😆

 

I'm working on it. lol

If my previous app doesn't pan out.

I'll have to hit up a different lender. Or steal one of your cards.😉

Message 104 of 115
AverageJoesCredit
Legendary Contributor

Re: Just a friendly reminder for those that want to keep cards from closing for inactivity.


@PandaGirl77 wrote:

Can anyone link to the best topic about which cards will close due to inactivity and after how long? Thanks!


No need, just KISS, if you value having a card, use it every couple months .Smiley Wink

Message 105 of 115
longtimelurker
Epic Contributor

Re: Just a friendly reminder for those that want to keep cards from closing for inactivity.


@AverageJoesCredit wrote:

@PandaGirl77 wrote:

Can anyone link to the best topic about which cards will close due to inactivity and after how long? Thanks!


No need, just KISS, if you value having a card, use it every couple months .Smiley Wink


Something like this.  (You can PROBABLY push couple to 4 or 6 but...)   A list wouldn't be that useful as lenders can change, and it may be profile/spend dependent as well (someone who has put $25k on the card last year may get a longer "grace" period for non-use than someone who has hardly used it)

 

ETA: As @AverageJoesCredit says, it is also if you value the card.    Many of us have, over time, accumulated cards that we really don't need.   As profiles mature, util padding and AAoA issues become less critical, and letting some of these cards close may be the better approach than wasting rewards and effort putting small charges on them regularly.

Message 106 of 115
kdm31091
Super Contributor

Re: Just a friendly reminder for those that want to keep cards from closing for inactivity.


@longtimelurker wrote:

@AverageJoesCredit wrote:

@PandaGirl77 wrote:

Can anyone link to the best topic about which cards will close due to inactivity and after how long? Thanks!


No need, just KISS, if you value having a card, use it every couple months .Smiley Wink


Something like this.  (You can PROBABLY push couple to 4 or 6 but...)   A list wouldn't be that useful as lenders can change, and it may be profile/spend dependent as well (someone who has put $25k on the card last year may get a longer "grace" period for non-use than someone who has hardly used it)

 

ETA: As @AverageJoesCredit says, it is also if you value the card.    Many of us have, over time, accumulated cards that we really don't need.   As profiles mature, util padding and AAoA issues become less critical, and letting some of these cards close may be the better approach than wasting rewards and effort putting small charges on them regularly.


Exactly. There seems to be this widely held belief that you should never ever close a card (or let it close) and it makes people think they have to keep every single card they ever opened, which IMO is completely false. It's ok to close (or let close) an account that you have no use for, assuming it's not your oldest or one of your only accounts. If you have say 20 cards and drop to 19 nothing is going to happen to your score except in the most extreme utilization situations.

 

There is also the effort, however small, of periodically charging to the card, checking for fraud, and earning rewards on a card you will never redeem from again (unless it has no threshold).

Message 107 of 115
Remedios
Credit Mentor

Re: Just a friendly reminder for those that want to keep cards from closing for inactivity.


@kdm31091 wrote:

@longtimelurker wrote:

@AverageJoesCredit wrote:

@PandaGirl77 wrote:

Can anyone link to the best topic about which cards will close due to inactivity and after how long? Thanks!


No need, just KISS, if you value having a card, use it every couple months .Smiley Wink


Something like this.  (You can PROBABLY push couple to 4 or 6 but...)   A list wouldn't be that useful as lenders can change, and it may be profile/spend dependent as well (someone who has put $25k on the card last year may get a longer "grace" period for non-use than someone who has hardly used it)

 

ETA: As @AverageJoesCredit says, it is also if you value the card.    Many of us have, over time, accumulated cards that we really don't need.   As profiles mature, util padding and AAoA issues become less critical, and letting some of these cards close may be the better approach than wasting rewards and effort putting small charges on them regularly.


Exactly. There seems to be this widely held belief that you should never ever close a card (or let it close) and it makes people think they have to keep every single card they ever opened, which IMO is completely false. It's ok to close (or let close) an account that you have no use for, assuming it's not your oldest or one of your only accounts. If you have say 20 cards and drop to 19 nothing is going to happen to your score except in the most extreme utilization situations.

 

There is also the effort, however small, of periodically charging to the card, checking for fraud, and earning rewards on a card you will never redeem from again (unless it has no threshold).


What do you mean by "widely held belief"?

 

I can think back to at least 3 threads dealing with this exact topic, and its 50/50 split between "close whatever you're not using" and "keep it open, it's not hurting anything" 

 

In essence, saying that there is some widely held belief is implying there is a hive mentality, which absolutely isnt the case, except it's in human nature to focus on opinions different than our own, so we can somehow "debunk" them. 

 

I have maybe 3 to 4 cards that dont report a balance, but that is their primary function, to report zero. 

I use my cards heavily, and I dont feel like I should be penalized scoring wise for it. 

In the absence of trended data, that's the best I can do to minimize the damage from certain scoring attributes. 

 

 

Message 108 of 115
longtimelurker
Epic Contributor

Re: Just a friendly reminder for those that want to keep cards from closing for inactivity.


@Remedios wrote:

@kdm31091 wrote:

@longtimelurker wrote:

@AverageJoesCredit wrote:

@PandaGirl77 wrote:

Can anyone link to the best topic about which cards will close due to inactivity and after how long? Thanks!


No need, just KISS, if you value having a card, use it every couple months .Smiley Wink


Something like this.  (You can PROBABLY push couple to 4 or 6 but...)   A list wouldn't be that useful as lenders can change, and it may be profile/spend dependent as well (someone who has put $25k on the card last year may get a longer "grace" period for non-use than someone who has hardly used it)

 

ETA: As @AverageJoesCredit says, it is also if you value the card.    Many of us have, over time, accumulated cards that we really don't need.   As profiles mature, util padding and AAoA issues become less critical, and letting some of these cards close may be the better approach than wasting rewards and effort putting small charges on them regularly.


Exactly. There seems to be this widely held belief that you should never ever close a card (or let it close) and it makes people think they have to keep every single card they ever opened, which IMO is completely false. It's ok to close (or let close) an account that you have no use for, assuming it's not your oldest or one of your only accounts. If you have say 20 cards and drop to 19 nothing is going to happen to your score except in the most extreme utilization situations.

 

There is also the effort, however small, of periodically charging to the card, checking for fraud, and earning rewards on a card you will never redeem from again (unless it has no threshold).


What do you mean by "widely held belief"?

 

I can think back to at least 3 threads dealing with this exact topic, and its 50/50 split between "close whatever you're not using" and "keep it open, it's not hurting anything" 

 

In essence, saying that there is some widely held belief is implying there is a hive mentality, which absolutely isnt the case, except it's in human nature to focus on opinions different than our own, so we can somehow "debunk" them. 

 

I have maybe 3 to 4 cards that dont report a balance, but that is their primary function, to report zero. 

I use my cards heavily, and I dont feel like I should be penalized scoring wise for it. 

In the absence of trended data, that's the best I can do to minimize the damage from certain scoring attributes. 

 

 


Well, just to be utterly pedantic (and why not), if the split really is 50/50, that's a pretty widely held belief!

Message 109 of 115
PandaGirl77
Regular Contributor

Re: Just a friendly reminder for those that want to keep cards from closing for inactivity.

I can count myself as a person under that belief it's not a good idea to close cards.  But currently my oldest card is only 4.5 years. I've gotten a lot of credit to make my utilization look low. I had BK in 2004 and took me a long time to want to try again and get better knowledge of credit managing skills.  I pay what I use in full except for 2 BT cards I'm chipping away at. There are many I don't use so the inactivity thing gets my antennae up. Still figuring out how I can make one of these cool signatures but I have 24 cards. 









Message 110 of 115
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