Barclays has sent out a letter to some cardholders stating that they have 30 days to use their card otherwise the card would be closed for inactivity. Barclays doesn’t seem to be the only ones to be ramping up card closures due to inactivity, but it is nice they are sending out letters before closing the card. It’s always a good idea to put a purchase or two on a card every now and then to prevent it from getting closed due to inactivity and I suspect this will become even more important due to COVID-19 as card issuers try to limit their exposure on cards that aren’t generating any revenue.
Hat tip to reader JBW
and today TD Bank just closed my credit card with them.. TD Cash? I didn’t use it for 9 months because it’s a piece of crap card with no reason to use it.. but surprised.. I’ve had 20 cards.. and this is the first one I’ve ever had closed.. so TD Bank can go screw off
If your not using it. Close it. Stop gaming the system. I have only one card and a 840 FICO you just why the need to impress anyone with a hand full of cards you dont use.
Read the room, Leonard.
LOL – Leonard thinks DoC readers only have a handful of cards.
I LOL’d
Leonard, the past few years I have not paid for one airline ticket. That includes trips to Asia, Europe and South America. Plus I am strategic with my use of cards to garner maximum points/miles. Chase and American Express have some great cards that pay off in spades.
Or the card issuer can offer better cashback/points percentage so their card actually gets used over others.
The issue with FICO is not number of cards it’s average credit age, which number of cards x years prevents the age from being impacted by new opened cards.
you forgot the /s
Got the same letter from TD for my Cash card
Here’s what we do to avoid closures due to inactivity. On every card that we’re not going to use we put a $5 monthly contribution to a charity, then activate autopay on the cards. So some charities get $5 a month from us and the cards don’t get closed. Win-win.
Has anyone PC’d their Uber card? I haven’t closed it and don’t see anything worthy to PC it to and I’m not sure if it can even be PC’d. I used that card so much sucks that they nerfed it to oblivion 🙁
They closed my dormant Priceline card two years ago without any warning. A warning would be nice.
Lotta sockdrawered Uber Visas bout to get the axe
Just got an email from Discover this week! whoa… had no idea this was trending. they said make a purchase by July, so I did. no activity since 2016
Is the current balance forgiven If Barclays closes the account to inactivity
Lol why would they forgive your debt
Opened my letter from Barclays just before reading this article. They cancelled my AAdvantage Aviator World Elite MC for inactivity plus info from FICO. My FICO is over 800 although “time since most recent account opening too short”. No great loss. I product changed to this no-fee card 6 months ago in order to maintain credit history from previous AA card. Admittedly I haven’t used since.