NWR: did anyone hear on the news last night.....

that some credit card companies are going to start charging for inactivity???

i took some NyQuil last night & was laying in bed with the news on & i think i heard that. does anyone have any information about it??

i most certainly won't have a problem with that

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Posted by Lsorrent

Hmmmm that could be bad. I have a Visa card that I haven't used in years.

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that's the problem. i have no joke 5 Chase cards. i don't use any of them & they are the worst when it comes to charging people money for stuff.
i just called them & they said that they are not going to be charging for inactivity but they do occasionally close accounts randomly for inactivity. that's not good either because that will ruin your credit.

back to those days of being young & stupid. why would banks give me so much damn credit????

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Posted by christine2010

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Posted by Lsorrent

Hmmmm that could be bad. I have a Visa card that I haven't used in years.

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that's the problem. i have no joke 5 Chase cards. i don't use any of them & they are the worst when it comes to charging people money for stuff.
i just called them & they said that they are not going to be charging for inactivity but they do occasionally close accounts randomly for inactivity. that's not good either because that will ruin your credit.

back to those days of being young & stupid. why would banks give me so much damn credit????

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so why not close one or two yourself?

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Posted by Jna2010

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Posted by christine2010

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Posted by Lsorrent

Hmmmm that could be bad. I have a Visa card that I haven't used in years.

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that's the problem. i have no joke 5 Chase cards. i don't use any of them & they are the worst when it comes to charging people money for stuff.
i just called them & they said that they are not going to be charging for inactivity but they do occasionally close accounts randomly for inactivity. that's not good either because that will ruin your credit.

back to those days of being young & stupid. why would banks give me so much damn credit????

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so why not close one or two yourself?

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closing credit cards lowers your credit score.

Are you serious!?!! Can you please post the News article or the news station where this was released?

I have about 10 credit cards that I don't use - all accumulated over the past 10-15 years and I don't need to get charged for inactivity on them?!!!

THIS IS CRAZY!!!

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Posted by christine2010

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Posted by Jna2010

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Posted by christine2010

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Posted by Lsorrent

Hmmmm that could be bad. I have a Visa card that I haven't used in years.

---

that's the problem. i have no joke 5 Chase cards. i don't use any of them & they are the worst when it comes to charging people money for stuff.
i just called them & they said that they are not going to be charging for inactivity but they do occasionally close accounts randomly for inactivity. that's not good either because that will ruin your credit.

back to those days of being young & stupid. why would banks give me so much damn credit????

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so why not close one or two yourself?

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closing credit cards lowers your credit score.

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ive never heard of that, but if it does im sure its not by much, there are other factors that play a MUCHlarger role in your score... but if you have then and you dont use them that doesnt do anything for your score either, but if they close them for inactivity that lowers your score also, soooo logically i would think that you closing the account youself would have a better impact than if the cc company did, no? could be wrong

One of my emergency cards was CLOSED due to inactivity

never mind i foudn this

Q: When the credit card issuer closes a credit card, there’s often a comment left on the credit report, “Closed by credit grantor.” Is there anything about that comment that hurts one’s FICO score?

A: No. It doesn’t matter who closed the card.

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Posted by mrsdraskin2009

One of my emergency cards was CLOSED due to inactivity

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I was afraid of this happening, so I have small monthly charges put on each of my cards. My emergency card gets my EZ Pass bill. Another one gets my wine of the month club (I'm a lush, I know). That way I am never completely inactive, but I know it's only a small, manageable charge. Then I can pay them off every month easily, because they're already things I budgeted for! I do it with my car insurance, too!

it doesnt matter if a card is closed due to inactivity or if you dont use it

and having credit is actually a good thing.... just use it wisely!

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Posted by Future Mrs P

Don't cancel them. Its really bad for your credit!!! You never want to close any accounts once theyre open. Try to change something monthly that automatically goes, like a gym membership or even your monthly cable/electiric/water bills.

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Agreed! It is worth it, especially if you want to get a mortgage, etc.

I 'heard it' while reading last night.... I have credit cards that I paid off and cut up because the interest rate was THROUGH THE ROOF... let them try and open those up and charge me... eff that
I'll sue!