I realize that if you’re reading a credit card related blog, you’ll probably have a ton of different credit cards. Some may have served a purpose a long time ago, and are no longer needed as they are replaced by better cards. If you want to keep these useless to you cards open to pad your credit score, you’re going to have to do some work. I like to put some sort of charge on all of my cards once every 3 months. Conventional wisdom is somewhere between 6-12 months. Whichever method you do, you don’t want to get a letter like this coming from Barclays or anyone else for that matter.
Barclays is sending out letters to some of its inactive cardholders. The letters are warning those that if they continue not to use their card, it will be closed within 30 days due to inactivity.
If you compare what Barclays is doing to what other companies do, it’s actually pretty generous. Instead of giving you a warning that they might close the account depending on what you decide to do, most other companies just tell you it’s been closed due to inactivity. Considering the times we are in now, that may not be the best look.
Good look or not though, companies like Barclays are a business. As such, they really need to look out for themselves, and removing any sort of risk is a trend that will probably continue throughout the pandemic. Let this serve as a reminder to use your cards every few months if you want to keep them open!
Have you ever received this sort of letter? Let us know your experience in the comment section below!