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I have a number of cards in my sock drawer that I am keeping open since they have no annual fee. I am planning on using each one every 3-4 months to avoid possible closure by the issuer. My question is, do the cards need to report a balance on a statement or could I use each card to buy a pack of gum and then pay off the balance as soon as I get back home?
@Hooosier wrote:I have a number of cards in my sock drawer that I am keeping open since they have no annual fee. I am planning on using each one every 3-4 months to avoid possible closure by the issuer. My question is, do the cards need to report a balance on a statement or could I use each card to buy a pack of gum and then pay off the balance as soon as I get back home?
they do not need to report just have to be used. Funny enough I charged a soda on one, and paid it off immediately, and my Fico score went up 30 points cause it stated "inactive card is now active" personally best way is just to buy amazon gift cards for like $1 increments you don't even have to leave the house.
@Anonymous wrote:
@Hooosier wrote:I have a number of cards in my sock drawer that I am keeping open since they have no annual fee. I am planning on using each one every 3-4 months to avoid possible closure by the issuer. My question is, do the cards need to report a balance on a statement or could I use each card to buy a pack of gum and then pay off the balance as soon as I get back home?
they do not need to report just have to be used. Funny enough I charged a soda on one, and paid it off immediately, and my Fico score went up 30 points cause it stated "inactive card is now active" personally best way is just to buy amazon gift cards for like $1 increments you don't even have to leave the house.
Great idea!
Can't believe this has never occurred to yet. Best way to keep activity on dormant cards.
lol people always looked at me funny when I tried to buy 10 packs of gum on 10 credit cards