Some Advice I got From LO

[bigman023]

Can you guys tell me if this is good advice or is this one of those FICO myths...

"Make a small purchase on your Chase card.  The credit report is showing this is still an “active” account and not closed.  It hasn’t had any activity in a while.  If you no longer have the card on hand, I would call the creditor and verify “if” this account is still open.  If so, then request a new card and then make a small purchase.  That way you will get the card active again, which will have a positive impact on your credit score."

Hes going off the CR's I pulled from myfico that I sent him.   The card reports a $0 balance, and is hardly used. 

Any additional info would be appreciated.

Thanks!

[ShanetheMortgageMan]

Probably a better question for the Understanding FICO® Scoring or General Credit Topics section.

[llecs]

IMO, there is some truth in that plus I think he's a little jittery, due to Chase. Cards that aren't used in a while aren't fully scored which may or may not impact your FICO. Also, Chase has been known to cancel cards if not used in a few months, though talk of that quelled in the recent year. Talking vaguely on the CC inactivity since I don't know the formula.

[RobertEG]

Sound like good advice, for two reasons.

It will retain the active scoring of the account, and probably affect whatever internal computer flagging that the OC might use to decide on the closing of inactive accounts.

.

[JagerBombs89]

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@llecs wrote:

IMO, there is some truth in that plus I think he's a little jittery, due to Chase. Cards that aren't used in a while aren't fully scored which may or may not impact your FICO. Also, Chase has been known to cancel cards if not used in a few months, though talk of that quelled in the recent year. Talking vaguely on the CC inactivity since I don't know the formula.

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Now if this is true, you don't have to let a balance report in order to show activity, correct?  You can use the card, PIF before statement cuts and activity would be updated?

[MidnightVoice]

If you don't use a card it can be closed by the CCC.  That is why all my cards (including the ones I never carry) pay something every month - utilities, phone, cable, newspaper bill, charitable deductions etc.  That keeps the CCC happy

I usually let them report and then PIF - the total reported is less than 1% of my total CL

[AndySoCal]

From what I have read an account with no activity is considered inactive after a year to 18 months. The advice is basically true that LO has given you. I would use the card  at least twice year to make sure it is fully factored in your FICO score.

[JonStur]

Use it or lose it...CC's can be closed for any reason or no reason at all...so don't give them one...remember use doesn't mean you have to carry a balance...