To control your spending and budget, you have placed several of your credit cards on ice. You still have one or two you use regularly, but there are some that have been neglected for some time. You know a key contributor to your FICO score is having active accounts with large amounts of credit surpluses in relation to the debt you are carrying. This is why you want to keep your accounts open. Since credit card companies are currently in the process of cleaning house, you should be concerned that a credit card company maybe interested in closing your credit accounts due to inactivity.
The credit card industry is loosely regulated and so companies can develop their own policies, interest rates, fees and time-frames for in activity, despite regulators trying to close the gap. However, it appears that the industry average for closing inactive credit card accounts is about two years.
Keeping Your Card Active
If you are approaching a long stretch of inactivity on your credit card and are concerned that your account is at risk of closure, simply use the card for a small purchase and pay the amount in full. By using your card responsibly and occasionally, you will keep your card active and maintain all your available credit. To be safe, plan on using your credit card for a small purchase at least once every 6 months.
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