There is no Capital One Platinum inactivity fee, so you can use it as often as you like.
With that said, it is also worth noting that Capital One usually closes Capital One Platinum if you haven't used it for over a year, and only after notifying you. So, you should use your Capital One Platinum at least once per year.
Lastly, keep in mind that "inactivity" means that there has been no purchase, transaction or balance on the account.
You should use your credit card at least once every three months to keep it active (but more often than that if you want your credit score to improve at a faster rate). Not all issuers are the same when it comes to credit card inactivity. Some might never close an inactive card, while others might do it after only a few months. But there aren’t any major credit card companies that state they’ll close your account before it’s been inactive for three months.… read full answer
Here’s how often you should use your credit card to keep it active:
Amex: No disclosed time limit but will sometimes close based on inactivity. They’ll notify you first and give you a chance to use your card to prevent it, though.
Barclays: Will close accounts after 6 months of inactivity. They will notify you 2 months in advance and will give you a chance to use your card.
Capital One: Will close as soon after 12 months of inactivity. They will notify you beforehand and give you a chance to use your card.
Chase: Will close after 6 months of inactivity. They will send you a letter inviting you to use your card to prevent it from being closed.
Citi: Will close accounts after 15 months of inactivity. They may notify you beforehand.
U.S. Bank: Will close account after 18 months of inactivity. May notify you beforehand.
Wells Fargo: No disclosed time limit but will sometimes close based on inactivity. They will always send a letter ahead of time notifying the cardholder and giving them an opportunity to become active and avoid the closure.
Bank of America: Will close accounts after 24 months of inactivity. They will send you a letter inviting you to use your card to prevent it from being closed.
Keep in mind that “activity” could be as little as making a $1 purchase. Making a payment or a balance transfer usually counts too, depending on the issuer. And issuers will often contact you if they’re planning to close your account based on inactivity, in order to give you a chance to keep your card by using it. Just make a small charge and you should be all set.
As long as you can afford to, though, you really should use your credit card every month. It’s not a bad thing to have zero balance, but your credit score won’t improve as quickly as it would if you make charges and pay them off. Don’t feel forced to spend, but consider charging at least one small thing.
The short answer is that nothing is likely to happen if you don’t use your credit card for a few months. Not using your card could actually help your credit score if you have a $0 balance when you stop (contrary to some common myths about keeping a small credit card balance being beneficial).… read full answer
The longer answer is that exactly what happens if you don’t use your credit card depends on which card you have. Some rewards cards will revoke any unredeemed points, miles or cash back you have saved up if you don’t use your credit card at all for a certain period of time – usually around 12 months. And if you don’t use your credit card for 6 months or more, the issuer could close your account. But there’s no standard timeframe for when a credit card issuer will decide to close an account due to inactivity.
Having your account closed due to inactivity could hurt your credit standing and possibly make it seem like your credit history is shorter than it really is. However, you will not be charged any sort of inactivity fee by your credit card company if you don’t use your card to make purchases or other types of transactions for a prolonged period of time. Credit card inactivity fees are banned by law.
As a result, not using your credit card (at least not regularly) can be a great strategy if you want to build credit but are worried about overspending. You just have to make sure your balance is $0 when you stop using your card. A credit card with no balance will get reported to the credit bureaus as being in good standing each month, with an on-time payment and 0% credit utilization. That in turn will lead to credit score improvement if you manage the rest of your finances responsibly.
For your convenience, we’ll summarize the key points to remember below.
Here’s what happens if you don’t use your credit card:
Nothing is likely to happen if you don’t use your credit card for a few months, as long as you make bill payments for any recurring monthly charges.
The credit card’s issuer may decide to close your account after a long period of inactivity. There is no standard timeframe, but they will often send a notice in advance and give you a chance to use your card first.
Some credit card rewards will expire after a certain period of account inactivity. You’ll also lose any rewards you’ve yet to redeem when your account is closed.
If the credit card you’re not using has a $0 balance and is in good standing, positive information will be added to your credit reports each month the account stays open.
Unpaid balances from before you stopped using the card will continue to accrue interest. If your balances have been paid in full, you won’t have to send in any new payments.
If your credit card charges an annual fee, not using the card won’t get you out of having to pay. And if you’re not getting anything out of a card that you’re paying for, you might want to close it.
The bottom line is that not using your card can still be good for your credit. And it’s far better than using your card irresponsibly. So if you don’t trust yourself to limit your spending, it may be wise to set your card aside until you have a necessary expense.
Yes, Capital One will close a credit card for inactivity after an extended period of time, but only after contacting the cardholder first. When the account has been inactive for too long, Capital One will notify the cardholder by mail or email and give them the chance to use the account again to avoid having it closed. Note that "inactivity" means that there has been no purchase, transaction or balance on the account. Capital One doesn't provide a specific time frame for closing credit card accounts due to inactivity, but generally speaking, it has to be longer than 12 months.… read full answer
To avoid having Capital One close your credit card for inactivity, just make at least one purchase per year. However, the best thing to do for your credit score is to make one small purchase every month and pay it off in full. For example, it could be something you would have paid for anyway, like gas or groceries.
If Capital One does close your credit card account for inactivity, you should expect to see a drop in your credit score, due to a rise in your overall credit utilization and change in the average age of your accounts.
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