Will banks close inactive accounts?

[kkapdolee]

I've read a few threads about certain banks (Barclay's) closing inactive accounts.

How common is this and does every bank do it?

Is there some sort of a time line for how long you can go inactive with which bank before expecting them to close?

There are a few cards that I opened that I can't or don't really intend to use.

Walmart Discover. Got it only for the monthly FICO. Had it open for a little over a month now but haven't used it once. I suppose I can use it for something small but don't really feel the need to especially because they continue giving free FICO even after your account is closed. I guess that may change in the future but I still have Discover it..

DCU Platinum. Got it only for the monthly FICO. I kinda want to use this because I need this score but apparently, setting up auto pay for PIF each month from an outside bank is very difficult or not possible. In that case, I don't want to bother..

Discount Tire Car Care One. Got it to get discounts on a new set of tires. Will probably not use it until my next set of tires which could be a couple of years from now. Actually, I don't think I can use this even if I wanted to because the card is not Visa, not MasterCard, not Discover, nor Amex. It just says CarCareOne on it. I don't think any other merchant besides Discount Tire will accept this card..

So how likely are the above three accounts likely to be closed by the lender?

[Creditaddict]

Just use every 3-6 months and it will stay open. Done no worry!

[09Lexie]

Yes, banks like stores will close accts for inactivity.  

I use my Wal/Discover every quarter. DCU, I rarely use but I believe Rev pays through bill pay without a problem.  I just pay mine at a shared branch

[Anonymous]

Yes, I had a Mens Warehouse account that closed after three years of inactivity. Also had a Jupiter Mastercard that reduced my $1,200 CL to $500 because I didn't use the credit line to its fullest potential. Truth, did not live near a Mens Warehouse and Jupiter was a waste of time so I closed it. In short as you have read from other posters, credit card issuers do close for lack of activity or reduce CLs.

[takeshi74]

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@kkapdolee wrote:

How common is this and does every bank do it?

Is there some sort of a time line for how long you can go inactive with which bank before expecting them to close?

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Creditors are not all identical.  Check with your specific creditors for their policies regarding closure of inactive accounts.

[sccredit]

CarCareOne is GECRB.  I received a letter from them yesterday that they are going to close my Lowes account if the card is not used in the next 60 days, so apparently they do!  

[longtimelurker]

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@takeshi74 wrote:

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@kkapdolee wrote:

How common is this and does every bank do it?

Is there some sort of a time line for how long you can go inactive with which bank before expecting them to close?

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Creditors are not all identical.  Check with your specific creditors for their policies regarding closure of inactive accounts.

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That assumes that creditors will tell you.  While certainly not exact, posting here, as the OP is done is a very reasonable way of getting some feedback.