Use Your Inactive Credit Cards At Least Once A Year
I got a letter the other day from Washington Mutual informing me that because i had not used my credit card for over 12 months they had closed it on my behalf. Overall its not the worst thing that ever happened b/c the limit on the card was quite low, however it happened to be one of my oldest credit cards (dating back to when they were Providian).
While the credit card companies are completely within their rights, cutting off lines of credit can bring down people’s credit scores because it decreases their amount of available credit, a factor in your FICO.
I guess the best solution is to remember to use each credit card for a small purchase at least once a year, and pay it off right away
