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Credit card not used enough, should I keep it?
leonnaise
Posts: 8 Forumite
in Credit cards
Had a letter from my bank saying that my credit card wasn't used enough and they were going to close it? Will that affect my credit rating and should I try and keep it? Its an emergencies only one so not used often but not sure what to do?
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Comments
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Yes keep it. Buy a pint of milk on it or pay your petrol on it, any small amount will do and then set up the direct debit to clear the FULL balance. It's always good to keep getting them monthly green zeroes and also you never know when you would need the card.I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0
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Use it regularly and pay it off in full each month. That way you have better spending protection and build a credit history.
If it's too late, get another one.0 -
Had a letter from my bank saying that my credit card wasn't used enough and they were going to close it? Will that affect my credit rating and should I try and keep it? Its an emergencies only one so not used often but not sure what to do?
Which bank was this for reference?
I've only heard of AMEX having a dormancy fee0 -
The OP didn't mention a dormancy fee...0
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