Credit Cards

A funny thing happened

  • Last Updated:
  • Aug 9th, 2017 11:37 pm
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[OP]
Deal Addict
Jul 27, 2017
2180 posts
949 upvotes

A funny thing happened

wonder if this has happen to anyone else?

I have an emergency back-up TD basic no-fee CC with a smallish credit limit. I have had this card for almost 20 years. It was always a second card in case the [only other] one we normally use gets lost, stolen, misplaced etc.

My last transaction on the card was for less than $100 back in 2011, card expiry 2014. The renewed card was issued in 2014, expiring 08/2018. After activating it I have not used it once. I called TD today to ask 'will I be getting a new card since the current one expires end August'. The response was a 'no' on the basis the card hadn't been used over a 24 mth period therefore we closed the account - however if you want another TD card you are already on file as approved forever. My response was thanks I'll think about it.

Got me thinking about all the previous CC that I've had over the years which I have 'closed the account in good standing' whether they remain on file forever as 'approved' for closed CC by the card holder?

Anyone come across this, I'd appreciate if you could offer some input

Thanks
8 replies
Deal Addict
Apr 23, 2017
1177 posts
2106 upvotes
I didn't know Canadian banks closed cards for no activity for 2 years. Interesting. I know in the US many issuers will close the card account after one year of inactivity - that has happened to people I know.
Deal Addict
Mar 11, 2007
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QC
Laurentian Bank introduced fee to my oldest card if I was not spending over 300$/mo. Had no choice to close it lol
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Jan 18, 2015
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Cornwall, ON
jfmartel wrote: Laurentian Bank introduced fee to my oldest card if I was not spending over 300$/mo. Had no choice to close it lol
Wow that's crooked as f***.

Anyway, it's always a possibility... It's easy to keep these types open though. Literally just put netflix or some tiny bill on it, and set your bank to auto-pay the monthly amount. Easy. Plus that helps your credit score since your cards show recent credit history on more than just your main card(s).
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Jan 17, 2005
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According to creditkarma report, I still have one amex card open, which was a replacement from costco one when costco moved to mastercard 3 years ago. I wish they automatically closed it. Too much hassle for a card I never wanted/activated.
Deal Addict
Jan 27, 2015
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Edmonton, AB
Even if the card isn't closed, wouldn't it stop appearing on your credit file if it hasn't been used in the past 6 years?
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Jan 18, 2015
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Cornwall, ON
FinancialFreedom wrote: Even if the card isn't closed, wouldn't it stop appearing on your credit file if it hasn't been used in the past 6 years?
Good credit can report up to 20 years, only bad credit drops in 6 years.
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Aug 8, 2012
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FinancialFreedom wrote: Even if the card isn't closed, wouldn't it stop appearing on your credit file if it hasn't been used in the past 6 years?
They can keep reporting good standing $0 balance every month forever if they want to.
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