If you're not using a card, they aren't making any money. Remember, they get a fee from every business transaction. You don't pay less for product with cash so why not use your card and pay off when you have a statement arrive? And no, I wouldn't pay it immediately, let the statement arrive.
If you're not using your card, you are a risk to them if someone hacks your account and they have a loss on top of the loss from your non-use.
For those of you who mentioned this, what is the problem with a ding in your credit rating? Won’t that work out after a while?
Il, sure it will.
That call is a lot better than the one I got in my spendthrift days. "We're concerned that you're using so much of your credit line."
I never had a call like that from my bank, US Bank, where I have had a zero balance on their VISA credit card for years.
I would go with the impulse to buy something on the card and pay it off when the statement comes.
Sounds like it's common. I will probably buy something over the holidays and then pay it off in January just to keep it active.
Thanks.
Years ago, I went into a Lowe's to look at washers, as my inherited one died. I was not planning on purchasing one that day, and they had a sale, along with 6 months free if you applied for their card, which I had no interest in. The salesman talked me into it and I walked out with the washer.
Something like 3 weeks later (less then a month), I got a call from Lowe's telling me my CC payment was late. I told them what happened and mentioned lawyer, and it magically was straightened out. I went into the store and paid that card off, and never used it. They eventually canceled.
My lawyer received something similar, and he put a nice letter together on his letterhead, and his debt was eliminated all together.
I had a CC that I received after having fraud on one. It sat for around 8 months, unactivated. I received a bill in the mail for some sort of electronic's insurance, and called the CC company. They tried to tell me I made the charge, until I asked them about the how on an unactivated card. That went away.
Usually I charge $100 to $200 on my credit card each month just to keep my account and accumulate funds towards a small rebate. I haven't had credit until recently and have not received threats to cancel the card from the bank. If I did, I would call them to remind them that I will take my checking account elsewhere. It's not nothing and my guess is that they will back off.
I have the dogs medication and food come to my home so they are reoccurring charges on my cards. I just ordered show tickets and put them on a different card to keep them active.
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