If you have multiple credit cards, it's important to keep them active and in good standing to avoid damaging your credit score. However, it can be easy to forget about a credit card that you don't use frequently, and if it remains inactive for too long, the bank may close the account. This can have a negative impact on your credit score, and can also raise red flags with banks when they do a credit check.
Credicated is a website that offers a simple solution to this problem. By signing up for Credicated, you can choose to have the website charge your credit card a small fee (less than $1 a month) on a monthly, bi-annual, or annual basis. This will keep your credit card accounts active and prevent them from being closed due to inactivity.
But why do banks close credit card accounts that are inactive for a certain period of time? The main reason is that banks want to minimize the risk of fraud and financial losses. If a credit card is not being used, it's more likely that it could be stolen and used for fraudulent purposes. Additionally, banks want to avoid the cost of maintaining accounts that are not generating any revenue.
By using Credicated, you can prevent your credit card accounts from being closed due to inactivity. This will help maintain and improve your credit score, and will also avoid the inconvenience of having to reapply for a new credit card if your account is closed.
Another advantage of using Credicated is that it's a convenient and flexible service. You can choose to have your credit card charged on a monthly, bi-annual, or annual basis, depending on your preferences and needs. And if you ever need to cancel your Credicated subscription, you can do so at any time without penalty.
In summary, Credicated is a simple and effective solution for keeping your credit card accounts active and avoiding negative impacts on your credit score. By using Credicated, you can prevent your credit card accounts from being closed due to inactivity, enjoy the convenience and flexibility of the service, and maintain and improve your credit score.
