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One of my credit cards canceled due to inactivity!?

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You can't leave credit cards unused over time. Many will cancel just like that. Every so often, maybe every other month or so, you need to charge something to the credit card to show activity. You just pay it all off when the statement comes so you don't pay any interest.

You should be able to reapply and get the same line of credit.
 
Originally posted by: edro13
Anyways... back to the topic...

I have a Sears card that was my first "Credit" card. I haven't used it in about a year, but since it's my oldest line of credit, I would like to keep it open. Is there normally a timeline of when they will cancel your account?
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Every card issuer has their own set of rules. COntact sears, or better yet, buy yourself something small from there or keep a revolving balance.



 
in summary: sucks that your card got cancelled but since you seem to make quite a bit i'm sure you won't have any trouble gettin a new 'emergency card'! 🙂
 
That's a policy that varies by bank. I have at least 5 CC's that haven't been used in 4+ years and all that ever happens is that they send me a new one when the old one expires.

Surprised that they cancelled yours so quickly, though.
 
Originally posted by: gscone
Originally posted by: edro13
Anyways... back to the topic...

I have a Sears card that was my first "Credit" card. I haven't used it in about a year, but since it's my oldest line of credit, I would like to keep it open. Is there normally a timeline of when they will cancel your account?
Click to expand...

Every card issuer has their own set of rules. COntact sears, or better yet, buy yourself something small from there or keep a revolving balance.
Click to expand...
Time to go shopping! 🙂
 
Originally posted by: edro13
Anyways... back to the topic...

I have a Sears card that was my first "Credit" card. I haven't used it in about a year, but since it's my oldest line of credit, I would like to keep it open. Is there normally a timeline of when they will cancel your account?
Click to expand...
I have a Sears card after doing a 0% finance thing from them. I haven't touched it in almost a year. It's not cancelled, but they do send me emails saying if I don't log on to sears.com every X months, it will be deactivated and I would have to re-register online. That's just for my online account though, not the actual credit card deactivation.
 
Originally posted by: wayne2456
Originally posted by: tangent1138
Originally posted by: wayne2456
Originally posted by: tangent1138

I just got a notice that one of my credit cards was canceled due to inactivity.
I paid it off last year and put it into a safe place to have as an emergency credit card.

It had a big limit $20K + and I had the card for a several years, so I'm pissed that they canceled it without even a warning. WTF!? I'm sure this will affect my credit rating negatively and it sucks I don't have an emergency card now.

The letter even says "your account cannot be reopened". Where's the freaking loyalty from these people?
Click to expand...



Then get a **J O B** :disgust:
Click to expand...

I have a job.
Click to expand...

So sorry, i thought you were one of those people who just max out credit cards. 🙂 :evil:
Click to expand...

Read the post. People with maxed out credit cards don't get them cancelled due to **I N A C T I V I T Y**
 
This is total BS.... People who make $430,000 a year:

1) Don't need a 20K credit card for "emergencies", unless they're really stupid and don't have an emergency fund set up.
2) Don't need to worry about their credit rating being impacted by one measly $20K limit credit card being closed. That's like what, 5% of your debt to equity ratio at most?
3) Probably wouldn't get their card shut down to begin with. When you have that kind of money, banks practically arm wrestle each other to give you lines of credit.
 
I'm not calling BS but if it was me......
Now if it was just me, and I happenned to make $430,000 last year.

- I just found out my $20K CC was cancel, I wouldn't be all pissed and post it on some nerdy board.

1) I called them and tell them that "Did you know I made $430,000 last year?"
2) And if those pricks didn't want my business, I'd have so many other banks giving me CC much higher than $20K limits once they know I made $430,000 last year.

- And if I did made $430,000 last year, what the hell do I care about my credit dropping.

"What, you don't want to give me a loan because of my low credit ???"
"Look(showing them that I made $430,000 last year) at how much I made last year".
LOAN OFFICER "Damm, you made that much ?.....how big of a loan would you like?"

I'm just saying...you know...if I made $430,000 last year and it happenned to me.
 
Originally posted by: tangent1138

I just got a notice that one of my credit cards was canceled due to inactivity.
I paid it off last year and put it into a safe place to have as an emergency credit card.

It had a big limit $20K + and I had the card for a several years, so I'm pissed that they canceled it without even a warning. WTF!? I'm sure this will affect my credit rating negatively and it sucks I don't have an emergency card now.

The letter even says "your account cannot be reopened". Where's the freaking loyalty from these people?
Click to expand...

OK, sorry I'm bored and I still can't go to sleep.
People who make $430,000 don't make a statement like "It had a big limit $20K+"
You make $430,000 and you think a CC with a limit of $20+ is big ??
 
Originally posted by: CTrain
Originally posted by: tangent1138

I just got a notice that one of my credit cards was canceled due to inactivity.
I paid it off last year and put it into a safe place to have as an emergency credit card.

It had a big limit $20K + and I had the card for a several years, so I'm pissed that they canceled it without even a warning. WTF!? I'm sure this will affect my credit rating negatively and it sucks I don't have an emergency card now.

The letter even says "your account cannot be reopened". Where's the freaking loyalty from these people?
Click to expand...
OK, sorry I'm bored and I still can't go to sleep.
People who make $430,000 don't make a statement like "It had a big limit $20K+"
You make $430,000 and you think a CC with a limit of $20+ is big ??
Click to expand...
seriously, a 20K limit is what they give to people making $50,000 a year

 
So OP, where do you work? Not that I don't believe you make $430k a year, just curious. That and perhaps I should look into getting employed by which ever company this is. Thanks.
 
LOL, I'm having too much fun...or is it I'm high on caffiene.

Can we play a guessing game how how he earn $430,000 last year ??

My first guess is that he sold alot of bridges to all the trolls out there.
 
Originally posted by: Indolent
Originally posted by: royaldank
$430,000 a year huh?

Thanks for the laugh. I have a bridge for sale if you're interested.
Click to expand...

I don't see where he said he spent money stupidly... :roll:
Click to expand...

Just trying to find ways for him to spend his imaginary money.
 
Sorry, this really isn't me....its the caffiene thats doing it.

He must be the one that keeps emailing me about the working penis enlargement pills.
 
Originally posted by: CTrain
LOL, I'm having too much fun...or is it I'm high on caffiene.

Can we play a guessing game how how he earn $430,000 last year ??

My first guess is that he sold alot of bridges to all the trolls out there.
Click to expand...



Okay...

1) I posted the figure in anger when someone claimed i didn't even have a job.

2) I felt bad for posting it because i know there are some people who struggle with not having enough money on the forum and I felt like I was throwing it in their face.

3) Yes, I understand if you edit a post but someone quotes you it's still there. Someone quoted me while I was calming down and editing it.

4) My increase in income is new to me, so $20K is big (to me). If it's a small credit limit to you, that's your opinion.

5) I work in an industry where my income varies year to year, so I've developed a system of saving money, having emergency credit cards and money market accounts in case I don't have a good year.

6) No, the industry i work in is not a pyramid scheme or spam. And it's not imaginary. I could scan in part of my W2, but is it really worth the hassle? My salary was never the point. You can believe what you want to believe.

7) I was angered that the CC company dropped it without even a warning letter. Yes, I can get a new CC. That was never the problem. It was just an angry rant late last night.



 
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