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  1. #1

    How long are credit/debit cards inactive before automatically cancelled?

    I was curious to know if anyone knows the average time it takes for credit cards or debit cards to be deactivated automatically due to inactivity? I recently learned that having any balance on your credit cards lowers your FICO score drastically so I will try to use them less. I just want to make sure that some of them do not get cancelled I play to put a few bucks on them every now and then but not sure how often I need to worry about that.

  2. #2
    Join Date
    Oct 2003
    Location
    Chattanooga
    Posts
    8,985
    Eh, using them and paying off the entire balance is how you build credit. Anywhom, if you're not using them just cancel them altogether. It's more of a liability to have them if you're not using them.
    David
    Web hosting by Fused For businesses with more important things to do than worry about their hosting.

  3. #3
    Yeah I use credit monitoring systems and it takes a few weeks for them to update their info. So lets say I have a $10,000 limit and use $300 dollars on my credit card. I pay the amount in full but then when the Fico score update comes around it hasn't updated that I had paid off the $300 in full and drops my score by 100 points. When it does update next month it increases my score. So does anyone know the answer to my original question about inactivity time limit? Thanks.

  4. #4
    Not sure about inactivity limit, probably around a year. Just make one small charge on each chard once every 6 months - any size charge will do (even a pack of gum). It's not good to close your accounts even if you're not using them. Old accounts lengthen your average age and that improves your score a lot. Also, the more available credit you have vs. actual usage is the primary factor in scoring. I can't imagine that having a balance of $300 on a 10k limit would drop your FICO 100 points. That doesn't make sense to me. Your score should barely move until you reach 20-30%+ utilization.
    Derek Raines
    Gigenet Communications - Chicago, IL

  5. #5
    Join Date
    Mar 2008
    Location
    isle of insanity
    Posts
    286
    iv had one for years that i never use, they never cancel them
    i wish they would im to lazy to

  6. #6
    The only reason a bank will ever close a debit card is you close the account or run the account out of money.

    Like BeerMoney, I have had credit cards for years that I haven't used and they never have canceled them. I think it depends on the financial institution that issues your card.


  7. #7
    Join Date
    Mar 2004
    Location
    USA
    Posts
    4,342
    I had some for years, never used even once.

    Peace,
    Testing 1.. Testing 1..2.. Testing 1..2..3...

  8. #8
    Join Date
    Mar 2008
    Location
    isle of insanity
    Posts
    286
    i wish i could issue some
    seems to be a nice loophole
    i always wanted to be a loanshark didnt you

  9. #9
    Join Date
    Oct 2001
    Location
    Ohio
    Posts
    8,299
    Quote Originally Posted by David View Post
    Eh, using them and paying off the entire balance is how you build credit. Anywhom, if you're not using them just cancel them altogether. It's more of a liability to have them if you're not using them.
    Don't cancel your card -- it'll lower your credit score. Length of open accounts plays BIG into your overall score.

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