Minimum use to keep CL open

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Minimum use to keep CL open

Postby gangof4 » Sat Jul 10, 2010 8:20 am

This may have been covered elsewhere and I just missed it, but what experiences have people here had with CL's reduced because of non-use? I had a Lowe's credit reduced from $1,200 to $200 because it was not used in a 12 month period, and then took a hard hit on my credit file to restore it to what it was. What about other cards? Must they as a general rule be used once a year to keep the CL's intact? I don't want to close merchant cards or bank cards I don't use regularly because of the "credit used to credit available" factor.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Sat Jul 10, 2010 11:45 pm

The 12 month like what happened with your Lowes card seems to be the typical period before they start charging fees/closing accounts. Some do it after 6 months but those are rare. As a general rule thumb I use all of my cards at least once every 6 months to play it safe. All it takes is one purchase to count as activity on the account.

CL's are another story. All it takes is a purchase to show activity on the account but most bank cards will slash limits if a decent portion of the available credit hasn't been used. This also happens after 6 to 12 months usually. Try and make a purchase of at least 10 to 20% of the CL on each account once every 6 to 9 months so they can't claim non-use.
Last edited by Mogul of Pineapples on Sat Jul 10, 2010 11:50 pm, edited 2 times in total.
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