Nothing is likely to happen if you don’t use your credit card for a few months, as long as you make bill payments for any recurring monthly charges. The credit card’s issuer may decide to close your account after a long period of inactivity. You’ll also lose any rewards you’ve yet to redeem when your account is closed.

Is it bad to have $0 credit card balance?

The standard recommendation is to keep unused accounts with zero balances open. A zero balance on a credit card reflects positively on your credit report and means you have a zero balance-to-limit ratio, also known as the utilization rate. Generally, the lower your utilization rate, the better for your credit scores.

What to do if you can’t afford your credit card minimum?

That usually means putting money into a separate account at a time when you already can’t afford to make a minimum payment on your debts. Your card company will hem and haw and try to battle you, but in the end, they want to get paid something, so they could accept less than what is owed to close out the account.

When to not pay your credit card debt?

Answer: DON’T PAY YOUR CREDIT CARD DEBT if it is hurting the rest of your life. Whatever you do: DO NOT file for bankruptcy. Then the courts just give the credit card companies your money. You have no say.

Can you legally stop paying your credit cards?

You can take steps to legally stop paying your credit cards. Many people do not realize you can legally stop paying credit cards. There is no longer a debtor’s prison to punish those who refuse to pay debts. If you honestly incurred the debt without breaking any laws, you can stop paying it at any time.

Who is the best person to pay off credit card debt?

People like James Altucher may even tell you to never pay off your credit card debt. But after working as both a debt collector and a credit counselor, Bruce McClary says that the best way to face credit card debt is head-on.