Keeping it Active

For just about anything you want to get off your chest about credit cards.
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gregshelley@scrtc.com
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Keeping it Active

Postby gregshelley@scrtc.com » Mon Oct 12, 2015 8:57 am

Just wondering how often do you have to use a card to keep it active? have one I want to only use enough to keep it an open account. Do not want to drop the card as it is one of my first Credit cards.









Discover it $1K cl (initial cl was $500) opened July 2015
Chase Slate Visa $2.2K cl opened July 2015
BOA cash rewards Visa $1.5K cl opened July 2015
Chase Freedom Visa 3.5K cl opened September 2015
Capital one Quicksilver one MC $500 cl opened September 2015
Discover it $3k
BOA CR Visa Sig. $18K
Chase Freedom Visa $2K
Chase MRP Visa Sig. $5K
Cap 1 Vent Visa Sig. $13K
Citi HH Visa Sig. $8.5K
AMEX Plat NPSL
AMEX BCP $20K
AMEX Gold Delta SM $8K
BC AR + WEMC $3.5K
Cap 1 Spark Busin Visa $2K
Chase Ink Cash Busin Visa Sig. $5K


takeshi
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Re: Keeping it Active

Postby takeshi » Mon Oct 12, 2015 9:45 am

Verify with each of your creditors. They can and do vary. Not all close due to inactivity.

gregshelley@scrtc.com wrote:Do not want to drop the card as it is one of my first Credit cards.

Your AAoA is not immediately impacted by account closure. Closed accounts typically don't fall off reports and factor into AAoA for 10 years after closure.

If you keep that account open make sure you're actively monitoring it for fraud.

gregshelley@scrtc.com
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Re: Keeping it Active

Postby gregshelley@scrtc.com » Mon Oct 12, 2015 10:51 am

takeshi wrote:Verify with each of your creditors. They can and do vary. Not all close due to inactivity.

gregshelley@scrtc.com wrote:Do not want to drop the card as it is one of my first Credit cards.

Your AAoA is not immediately impacted by account closure. Closed accounts typically don't fall off reports and factor into AAoA for 10 years after closure.

If you keep that account open make sure you're actively monitoring it for fraud.


Thanks
Discover it $3k
BOA CR Visa Sig. $18K
Chase Freedom Visa $2K
Chase MRP Visa Sig. $5K
Cap 1 Vent Visa Sig. $13K
Citi HH Visa Sig. $8.5K
AMEX Plat NPSL
AMEX BCP $20K
AMEX Gold Delta SM $8K
BC AR + WEMC $3.5K
Cap 1 Spark Busin Visa $2K
Chase Ink Cash Busin Visa Sig. $5K

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CarefulBuilder14
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Re: Keeping it Active

Postby CarefulBuilder14 » Mon Oct 12, 2015 12:30 pm

Which card are we talking about? Slate, or something much older?

I don't know the specifics for any of your listed cards. I've not bothered to ask Chase or Discover since I use both Freedom and It regularly.

I've heard Amex and Chase tend to keep accounts open for a longer time than other issuers in the case of inactivity.

Barclaycard is often more trigger-happy about closures. Some people report account closures after 6 months of inactivity.

A Citi CSR said Brooks Bros would take 2 years of inactivity to be closed.

The only reason I'm currently intent on keeping low-value cards open is that I've not totally ruled out heavy-duty bonus hunting. AAoA is important then.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

gregshelley@scrtc.com
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Re: Keeping it Active

Postby gregshelley@scrtc.com » Mon Oct 12, 2015 2:00 pm

CarefulBuilder14 wrote:Which card are we talking about? Slate, or something much older?

I don't know the specifics for any of your listed cards. I've not bothered to ask Chase or Discover since I use both Freedom and It regularly.

I've heard Amex and Chase tend to keep accounts open for a longer time than other issuers in the case of inactivity.

Barclaycard is often more trigger-happy about closures. Some people report account closures after 6 months of inactivity.

A Citi CSR said Brooks Bros would take 2 years of inactivity to be closed.

The only reason I'm currently intent on keeping low-value cards open is that I've not totally ruled out heavy-duty bonus hunting. AAoA is important then.


Yes, Chase Slate
Discover it $3k
BOA CR Visa Sig. $18K
Chase Freedom Visa $2K
Chase MRP Visa Sig. $5K
Cap 1 Vent Visa Sig. $13K
Citi HH Visa Sig. $8.5K
AMEX Plat NPSL
AMEX BCP $20K
AMEX Gold Delta SM $8K
BC AR + WEMC $3.5K
Cap 1 Spark Busin Visa $2K
Chase Ink Cash Busin Visa Sig. $5K

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CarefulBuilder14
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Re: Keeping it Active

Postby CarefulBuilder14 » Mon Oct 12, 2015 2:12 pm

gregshelley@scrtc.com wrote:Yes, Chase Slate

Do you plan to open a lot of AF cards for bonuses, and then close them after a year or two? (By "a lot" I mean like 5+ a year. I know some people open many more.)

If yes, then I'd keep Slate for the extra AAoA.

If no, then I'd just stop using Slate and let it eventually go inactive.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

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Vattené
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Re: Keeping it Active

Postby Vattené » Mon Oct 12, 2015 2:20 pm

I've had a couple of accounts close on me (didn't really care to keep them active), and they had well over a year of inactivity. As previously mentioned it varies, and I don't know what the case is with Chase specifically. I'd guess you'd be pretty safe if you put a charge through once every six months. Maybe do it every three or four if you're really intent on keeping it open. If you have Netflix or another small monthly expense, maybe you could set that up to automatically be charged to the card. That way you wouldn't have to worry about remembering when to use it, but still wouldn't be putting much spending through it.

If you do that, though, just don't forget to pay it! I'd also second the sentiment that it wouldn't matter too much if they did close it on you anyway.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

Kevin86475391
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Re: Keeping it Active

Postby Kevin86475391 » Mon Oct 12, 2015 10:33 pm

Don't forget the possibility of doing a PC (product change). You'd miss out on any sign up bonus of course, but if you really want to keep the account active, you might consider asking them to convert it into a different account that would have more use for you, like a Freedom or one of their branded hotel/airline cards (I'm assuming they'd convert to a branded account, but not positive. I know they would on the Freedom).

Regarding spending to keep the account active, yes, it definitely does vary a lot by lender. Don't hold me to it, but with Chase I'd say once every 2 or 3 months should be adequate. Once a month if you want to be safe.

However, isn't your Slate still fairly new, like under a year? If so then now would probably be the time to let it close for inactivity. As takeshi pointed out, it'll stay on your credit report for 10 years anyway, which in this case should probably be absolutely fine. What you would want to avoid doing is closing your oldest account if it's much older than anything else you've got. Like for example a 30 year old account if you only have other 2 or 3 year old accounts, because then in 10 years when it does fall off it's going to hit you much harder since, at that point you'd be going from a 40-year old oldest account to a 12 or 13 year old oldest account. If I recall correctly from other threads and the age difference between the Slate and your others is less than a year then I really wouldn't worry about it at all.

Vermonster
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Re: Keeping it Active

Postby Vermonster » Tue Oct 13, 2015 8:28 am

I would PC or close it. Slate is such a great BT card that I would hate to not be able to take advantage of that later down the line. You'll have to have Slate closed for 2 years to get the nice 0% BT fee signup bonus again.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

jcarte29
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Re: Keeping it Active

Postby jcarte29 » Tue Oct 13, 2015 8:50 am

This is something I've been dealing with for a while with My Cap One Quicksilver, previously Orchard, previously Sears Store MC (which is 5+ years old in my portfolio.)

I've called Cap One, asked for CLI, been denied (while my other creditors have graciously accepted), asked for a Product Change, which they denied (told me I'd be "more than welcome" to apply for a new card, which I have no desire to do, and I point out to them I already did that when I got my Buy Power Card), and just have treated me like a second class citizen (while my other creditors have treated me like I expect given my credit improvement).



It was a card that I got when I was still repairing my credit, and now that I'm growing it, they want nothing to do with helping me make it a better card. But, I don't want to close it because it's at least 4 years older than my next oldest card, my Lowes, and of course the others since.

So frustrating too, I just paid the annual fee ($59) mainly because that was my way of paying the one charge to keep it active. But otherwise it collects dust in my SD.
Portfolio:
CITI Diamond Preferred $7,000 [06-16]
AMEX Platinum (Charge) [11-16]
AMEX EDay $12,000 [11-14]
Lowes Store $15,000 [4-14]
CSP VISA $6,000 [7-14]
GM MC $9,000 [9-14]
AAdvantage Red MC $10,350 [10-14]
Discover IT $4,500 [03-15]
Chase Marriott VISA $5,000 [04-15]
Cap One Quick $2,600[4-10]



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