Card Four Sony
Wanting to get a four hundred dollar mp3 player?
I am however thinking about doing monthly payments on it. I can afford it with cash right now but if I dont like it or find a better one I could return it instead of being stuck with another mp3 player I dont like. They dont offer at walmart or radio shack. I know Sony offers it for $15 a month. This may sound like a really dumb question but...
1. I want to put this on my credit card for $15 dollars a month. It's a $900 one and I rarely ever use it?
I here that if you dont use a credit card for a long time the company will sometimes cancel it.
2. Will doing something this simple increase my credit score?
Here is the link to it btw: http://www.sonystyle.com/webapp/wcs/stor…
* 2 minutes ago
* - 4 days left to answer.
Meaning the card will get charged $15 a month and I will pay it off each month. I dont mean charge the whole thing on the credit card at once.
Having a credit card cancel your card due to lack of use is not a function of your credit score. It's a function of credit card companies trying to save money by not having to mail paper bills to people that never use their cards.
That being said, if a credit card company does cancel your card, that may affect your credit score by reducing your total amount of credit available to you.
So, by using your credit card to pay for a $15 a month transaction won't improve your credit score, but it will help prevent your credit card from being cancelled which might hurt your credit score.
This sounds like a great way to keep your seldom-used credit card active and off of the cancelation lists of your credit card company -- no matter if you pay it off every month or not.