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C CITI closed account due to inactivity

glck23 429 62 September 6, 2016 at 06:34 PM
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CITI closed my account due to me not using the card much, no problem, was a small amount card @ $1,000.

I have a bunch of other credit cards with zero balance (thank God), I know that you get dinged on your fico score if you choose to close the credit cards, but what about if the credit card company does that for you on their own act? Does that still ding my credit score? If so, why are we at the mercy of their bullshit tactics that hurt consumers fico score. Pisses me off.


Ok end rant. Thoughts please?

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#2
It will affect your credit in the same way that closing it on your own would have done. Total credit goes down and credit utilization goes up (if you have balances). The average age of all accounts won't be immediately affected since all accounts open and closed are counted, but if that account was only 1 y/o (for example) that's going to bring the average age down for awhile (I believe they count closed accounts for 10 years?).

p.s. I haven't had this happen yet, but with all my idle accounts it's only a matter of time I suppose. I charge the idle accounts 1-2x per year. Last time I called Discover with a promotion inquiry, the rep chastised me for not using my account. Really. She talked to me like she was scolding her 10 year old son. laugh out loud
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Last edited by ManUpOrShutUp September 6, 2016 at 06:51 PM
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#3
Who cares about a FICO score if you don't plan on buying a house in the next 6 months.
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#4
Quote from tennis8363 View Post :
Who cares about a FICO score if you don't plan on buying a house in the next 6 months.
You're absolutely right, however it's something that I've taken good cared of and to see it take a hit over something out of my control is frustrating argggggg. But you're right, definitely not buying another property for at least 3 more years from now. Thanks fellas/fellers
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#5
I hate CITI! They closed my two oldest cc cards, both of which were still being used when I opened a new one years ago. The first one had a low limit and was not my heavily used card, but I had it since I was 19 or 20. That was over 25 years. And while people mention a ding, it is also worth noting that something like that severely hurts as now, my average credit history is now about 12 years!! FYI, I maintain a 0 balance as I pay everything in full.
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#6
I have a Visa credit card with US Bank that I haven't used in seven years and they don't seem to care. Kind of a weird bank, no balance transfer offers or any other incentives. I would cancel it myself but it is good for the FICO credit score.
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#7
Quote from mitchflorida View Post :
I have a Visa credit card with US Bank that I haven't used in seven years and they don't seem to care. Kind of a weird bank, no balance transfer offers or any other incentives. I would cancel it myself but it is good for the FICO credit score.
Strange. I get BT offers from US bank all the time. Call them and see if they can switch it over to a Cash+. Then at least you can pick up 5% cashback on a couple categories every quarter.
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#8
Quote from ManUpOrShutUp View Post :
Strange. I get BT offers from US bank all the time. Call them and see if they can switch it over to a Cash+. Then at least you can pick up 5% cashback on a couple categories every quarter.
If he/she does that then they might catch in that the card has been inactive for quite some time... Shhhh, tiz good for the FICO score lol
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#9
Quote from glck23 View Post :
If he/she does that then they might catch in that the card has been inactive for quite some time... Shhhh, tiz good for the FICO score lol
Accounts flagged as inactive are flagged automatically. Besides, if they switch it to a Cash+ you get 5% back on a few good categories so there's some incentive to use it. Cool
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#10
Quote from glck23 View Post :
If he/she does that then they might catch in that the card has been inactive for quite some time... Shhhh, tiz good for the FICO score lol

Frankly, I find the US Bank credit cards rather worthless. They don't give large cashback like Cit or Discover, and they don't give me 1 percent fee 0% Balance Transfers like Bardlay. Just let it sit and gather dust, maybe I would use it in an emergency.
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Last edited by mitchflorida September 12, 2016 at 07:48 AM
#11
Quote from glck23 View Post :
CITI closed my account due to me not using the card much, no problem, was a small amount card @ $1,000.

I have a bunch of other credit cards with zero balance (thank God), I know that you get dinged on your fico score if you choose to close the credit cards, but what about if the credit card company does that for you on their own act? Does that still ding my credit score? If so, why are we at the mercy of their bullshit tactics that hurt consumers fico score. Pisses me off.


Ok end rant. Thoughts please?
Take it as a learning experience and remember to use all of your cards every year. I take my extra credit cards out every 6 months and buy myself a $20 amazon gift card; apply it to my amazon gift card balance and file them back away. set a google or microsoft calendar reminder every 6 months to take everything out and charge something small. fast food meal, redbox, tank of gas, etc... keep all your cards at least a little active.
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#12
Quote from mitchflorida View Post :
Frankly, I find the US Bank credit cards rather worthless. They don't give large cashback like Cit or Discover, and they don't give me 1 percent fee 0% Balance Transfers like Bardlay. Just let it sit and gather dust, maybe I would use it in an emergency.
Cash+ is 5% - same as I get on my Citi and Discover cards (well wife has 10% on her Discover for a year). And I just got an 18-month 0% APR BT offer on my REI card. It does have a 2.99% fee though. :shrugs:
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#13
Quote from goodale69 View Post :
Take it as a learning experience and remember to use all of your cards every year. I take my extra credit cards out every 6 months and buy myself a $20 amazon gift card; apply it to my amazon gift card balance and file them back away. set a google or microsoft calendar reminder every 6 months to take everything out and charge something small. fast food meal, redbox, tank of gas, etc... keep all your cards at least a little active.
I agree with one small addition: REMEMBER to pay the bills! lol. Defeats the purpose if you get hit with a late fee or something.
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