How to Keep Credit Card Accounts Current

Brace yourself for this. Most credit cards must be used to keep accounts open. Accounts should be kept open whenever possible. Open accounts enable you to continually accumulate credit cards.

There’s a bright spot in all of this, though. It’s that there’s little inconvenience or expense involved in keeping accounts open. Single-purpose credit cards must be used to keep their accounts open.

1. Rotate the purchase of fuel using gas credit cards

Oil company accounts can be kept open by rotating from who you purchase gasoline. To keep track of purchases, use an index card. List the companies, in single file, down the left hand side. Whenever gas is purchased, place a check to the right of the company’s name. This is an easy way to keep oil company accounts open.

You’ll have credit cards for oil companies not in your area. Don’t worry about using these cards. Use the cards in your area and keep them current. You won’t be able to use all your credit cards once your collection grows. Just do the best you can.

2. Alternate using different store credit cards

Department and clothing store credit cards can be used on a rotating basis. To keep track of credit purchases from retailers, use an index card. List the companies, in single file, down the left side.

Whenever a purchase is made, place the date to the right of the company’s name. It’s preferable to use your credit card at least once every six months. If it isn’t possible, then try for no less than once a year.

You don’t have to carry department store credit cards to make purchases. However, you’ll probably find shopping easier when you do. Waiting for an account number can sometimes be quite an ordeal. Don’t worry about one credit card becoming used. You can usually get as many cards as you desire.

T&E credit cards will be renewed without using them. All they want is your annual fee.

3. Use bank cards that don’t charge annual fees

Bank credit cards that charge an annual fee will be renewed without using them. Bank credit cards that don’t charge an annual fee must be used. They can be used at most retail outlets to buy necessities without creating undue expense.

Try to keep your bank credit card account current without carrying your card. One way is to buy from companies who allow purchases to be charged over the phone. Another way is to use checks that are drawn on your bank credit card account.

4. Wisely avail of your card privileges

Most banks offer check writing privileges. Unfortunately, there are two drawbacks to checks. First, you will be charged interest on the check written. This is considered a cash loan.

Second, your checks won’t be returned. Rotate the use of credit cards to keep accounts current. A current account allows you to continually get additional and replacement cards. You’ll also be in position to acquire cards when a design change occurs. Use this knowledge to your benefit while it still works.

Copyright 1986 by Greg Tunks

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Frequently asked questions

You can find out the value of old credit cards by checking how much similar cards sell for. There are several ways to do this.

The simplest way to determine the value of old credit cards is to ask an experienced collector. If you submit an inquiry via our contact form, we can connect you with an expert who can assist you and point out if there is anything rare or unusual in your collection.

Alternatively, you can become a member of the American Credit Card Collectors Society. Membership in our credit card collecting club provides access to resources and knowledgeable members who can help. Benefits of membership include access to a gallery containing thousands of cards with historical pricing information, and access to our entire collection of newsletters, from 1994 through the present day.

You can look at recent sales on auction sites, however, there are some considerations to keep in mind when doing this. Firstly, it’s important to look at selling prices, rather than asking prices. Selling prices are the prices people actually paid, while asking prices can be very different. Secondly, historical sales on some sites are only saved for 3 months, so you may not find something that exactly matches what you have. Thirdly, it is sometimes possible to see rare or unusual cards sell for lower prices than they should have because people do not understand their worth, the ads don't do justice to the card, they're listed in the wrong category, or any combination thereof.

There are always people in our club who are actively buying cards. Collectors tend to focus on a niche, like gas cards or retail cards, or they might focus on a slightly broader area, like bank cards or travel and entertainment cards. Many of the rarest or most unusual cards will exchange hands in private sales. Please contact us if you are thinking of selling your collection.

You can also sell your old credit cards on online marketplaces. You will get the highest price if you sell each of your cards individually, although this approach requires the most effort. At the opposite end of the effort scale would be selling all cards as a job lot, an approach which typically results in the lowest price on a per-card basis. Halfway between these two approaches would be to group cards into different categories and to sell these individual groups, e.g., BankAmericard, Master Charge, oil and gas, retail, and so on.

To join the club, visit the membership section and complete the registration form. You can pay by check or PayPal. We offer annual or lifetime memberships. If you have any questions please contact us via the form on our website.

Credit cards are more worthwhile collecting if they are rare, in good condition, have historical significance, or are associated with famous personalities or events. Valuable modern cards might include those that are difficult to obtain, such as American Express Centurion (a.k.a. ‘black’) cards, while older credit cards might include early independent bank cards, American Express, Diners Club, or BankAmericard (Visa) cards from the 50s/early 60s, or Master Charge (MasterCard) cards from the late 60s. Rare or unusual cards can also be sought after, such as those issued in small numbers, like small independent department stores or gas stations, or cards with appealing aesthetics.

Consulting with other collectors or experts in the club can provide valuable insights. Contact us for more information via the form on our website.

We do not offer an appraisal service in a traditional sense (such services are normally a paid service) but we can connect you with an expert who should be able to assist for free and point out anything rare or unusual in your collection. The simplest way to do this is to submit an inquiry via our contact form.

The American Credit Card Collectors Society accepts donations and is most grateful for any we receive. When donations happen, we strive to find good homes for cards where they will be looked after, matching cards with collectors who will appreciate them. The club may charge members a nominal fee for donated cards, and the proceeds are offset against the running costs of our club. We are a non-profit organization. Running costs include expenses like our convention and website hosting. Donations are most popular for people getting out of the hobby, or when someone has inherited a collection and doesn’t know what to do with it.

If you wish to donate your collection, please contact us via the contact form above.

American Credit Card Collectors Society