Virgin Cancelling my credit card because I am not using it

retiredin2011

I have just received a letter from Virgin telling me that if I don't start to use my credit card they will cancel it.

I only got it for stoozing the free transfer balance to my current account then into my high interest savings account all these years ago.

I think, but I can't remember, I made over £250 in a year on that deal.

Their gain I suppose.

That's 3 cancelled in the past year for none use, only 5 to go.

chris-j

Getting more common this, but can understand why from card company perspective. If they are not making any money from your non use can't really blame them.

DavidDebt

Well ultimately it's costing them money to keep that credit facility available to you so if you're not using it. It makes sense for them to close it down.

YorkshireBoy

They keep wanting to close mine too. Seems to be an annual event now.

I'm hanging on to the near £20K limit in the hope that they'll start with the 'profitable' SBTs again, so just bung a small purchase on the card to 'reset the clock'.

Anthorn

Yup they have to cover credit limits with the actual funds. So if you're not using your available credit they will cut it. It's a cost-cutting exercise!

retiredin2011

Another one cancelled, Sainsburys.

4 to go.

As long as my Capital One card isn't cancelled, but I use that all the time for the cashback.

jonesMUFCforever

Why not use the cards from time to time just to keep them live?

I do this and do not get letters closing them very often.

CLAPTON

retiredin2011 wrote: »

Another one cancelled, Sainsburys.

4 to go.

As long as my Capital One card isn't cancelled, but I use that all the time for the cashback.

i would keep and use 3 of your cards... you never know when one might be refused or some problem arise and a couple of backups might prove invaluable