Unlike what Chase did with my Disney Premier card a few years back, Chase is taking a different approach with Rob’s Chase British Airways Visa Signature Card.
Chase stated in the letter, that he got via mail, that in 60 days, they are closing his account due to inactivity and he has 60 days to use the card if he wants to keep it. I will probably use it for one small purchase just to reset the activity clock. When Rob’s fee becomes due, I will decide what to do with this card.
Personally, it doesn’t affect us if we lose this card. We never use it anyway. However, what would affect him a bit would be losing the credit line (albeit small) that is attached to this card. Don’t forget, losing credit hurts utilization ratio and ultimately negatively affects credit score. Not so fast Chase!
I will call Chase customer service and have Rob’s credit line moved from this card to another of Rob’s Chase cards. Remember, it is always better to move a credit line when you cancel a card or when a card will be canceled for you! When the fee comes due, it will be easy for us to cancel if we want to.