Notification if card not used for X months (6,9,12) | Voters

Notification if card not used for X months (6,9,12)

complete

Jeff Ernst

Cards with no or low rewards but open for many years should offer notification if card has not been used for a certain time period so it can be used before automatic closing for non use. Closure could directly impact credit score due to change in length of credit history.

July 5, 2021

Marcia Cunning

marked this post as

complete

Nathan Levin

This is something that I always fear now that I have 10 cards and very few re-occurring payments. this feature would be life changing

Jerry

Love the idea!!!

Morgan Bowling

marked this post as

under review

We will keep this on our radar for a future update!

Jason Morcos

Along the same idea, what if MaxRewards prioritized a card higher/called it out in a specific category if you hadn't used that card recently (especially if that card had a similar rewards rate).

For example, I have a fixed rate 1.5% cash back card I never use except the minimum to keep it active. It would be cool if max rewards called the card out on the best cards page under "online shopping" or anothed category and said "you may want to use this card. You haven't used it in 90 days. It earns 0.5% less cash back than your best card" or something like that.

Ryan + G

This would be quite useful indeed.

Qahtan Al Qaysi

Even less than 2 months will be ideally IMO

Jay Rose

Qahtan Al Qaysi: I try to use each card at least once every 6-months and haven’t had any issues yet. I’ve kept all my “starter” cards and simply charge a little something every so often to keep the activity going. The thought has crossed my mind to get rid of at least a few of them, but I’ve had them for so long now that I may as well let them age. For me, it’s also a reminder of who was good to me during my rebuilding stage and how far I’ve come since!

Di B

And keep how many days last time used

Amber + J

You should keep track of ANY card that you dont use!! Most companies will charge you if you dont use your card after a certain amount of time, so you could get a hit to your credit score, and a second hit because all 3 credit beuros take how long youve had established credit, its actually like 30% of your credit and can slash it if you start removing old cards.You should use them at least once a year, even for $5 .. its better then having Experian tell you that your credit score was slashed by 50 points or more 🤔

Jay Rose

Amber + J: Great point! “Age and Credit Type” account for 21% of the VantageScore 3.0 and 15% of the FICO 8 models. I personally use each card at least once every 6-months. As some creditors won’t even wait a year, I’d urge everyone to do the same!
The craziest part about a creditor closed account is not the immediate effect it has on your credit, but the delayed effect as it still counts towards your aging for up to 2-years depending on the model used. That’s what probably sucks the most as you’ll see the hit after forgetting about the card and when you least expect it. In theory, your credit should have grown in those two years and the hit would be small enough to “cancel out,” but it doesn’t necessarily work this way, especially if you have 2+ accounts closed on you!
Aside from this, many people don’t realize that if there is a balance on a card that is closed on you, it becomes due-in-full as soon as the account closure takes place. So, if you can’t pay it back in full, it will go to collections VERY quickly!
You really can’t stress enough to not let this happen!

Tino V

actually 3 too

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