I got an preapproved line of credit account at around $15k from CIBC a few months ago. I don't really need the money, but I took the account anyway as I figure it could be used for emergency use. However, the CIBC CSR warned me that I need to use it at least every 6 months, otherwise they may close the account because of the inactivity.
Now what is the best strategy to keep the account alive and in the same time not hurting my credit score.
Should I use it for small purchases every few months? I am just thinking whether should I pay it right away or wait for the statement coming in and pay it. Does having a balance in LOC account in the monthly statement good or bad for my credit score?
Now what is the best strategy to keep the account alive and in the same time not hurting my credit score.
Should I use it for small purchases every few months? I am just thinking whether should I pay it right away or wait for the statement coming in and pay it. Does having a balance in LOC account in the monthly statement good or bad for my credit score?