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Using a long-unused credit card already on acct - my credit score drops?

Moderator Emeritus

Re: Using a long-unused credit card already on acct - my credit score drops?


JustinIND wrote:
Odd... Curious what was the balance reported vs credit line or highest balance?

I have actually had my Fico go up a point or two for using a card that has not had activity in 3 or 4 months. In fact, one of my positively affecting my Fico score is "recent credit card use"

As a matter of fact, the same thing happened to me today. I just received a score watch alert on myFICO and when I went to view it, it said that an unused account was showing activitiy. This was my Kay Jeweler card; I just used it this month for some repairs. I got a 5 point boost as a result. Go figure...


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 11 of 18
Valued Contributor

Re: Using a long-unused credit card already on acct - my credit score drops?

I believe score watch has a setting for when to alert you for a dormant account. Can you check ? I think the alert and the score drop may be tow different issues.

Equifax My FICO score 814 11/29/2016, Discover TU FICO 807 12/29/2016 Citibank Equifax Bankcard FICO score 827 12/27/2016 Average of Accounts 13 years and no Installment accounts, 1 TU inquiry in 2015
Message 12 of 18
Regular Contributor

Re: Using a long-unused credit card already on acct - my credit score drops?


AndySoCal wrote:

I believe score watch has a setting for when to alert you for a dormant account. Can you check ? I think the alert and the score drop may be tow different issues.


Andy, you're right.  And I think the default setting is 3 months.  I didn't realize that ... thanks for pointing it out.

 

The score drop may be (more) attributable to my eating up $1300 of a $1700 CL in a couple of transactions at Dillard's (on a dormant card, if that has anything to do with it at all).  Anxious to see what the scores do when the PIF shows up next month -- will it go back to the 683, or whatever it was before ???

 

Thanks.

Starting Score: 542 (in 2006)
Current Score: 661 (TU FICO), 677 (EQ FICO), 672 (EX FICO)
Goal Score: 750+
Message 13 of 18
Moderator Emeritus

Re: Using a long-unused credit card already on acct - my credit score drops?


OnWayUpinTexas wrote:

AndySoCal wrote:

I believe score watch has a setting for when to alert you for a dormant account. Can you check ? I think the alert and the score drop may be tow different issues.


Andy, you're right.  And I think the default setting is 3 months.  I didn't realize that ... thanks for pointing it out.

 

The score drop may be (more) attributable to my eating up $1300 of a $1700 CL in a couple of transactions at Dillard's (on a dormant card, if that has anything to do with it at all).  Anxious to see what the scores do when the PIF shows up next month -- will it go back to the 683, or whatever it was before ???

 

Thanks.


Yeah, that's probably what did it. You should be fine after PIF.


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 14 of 18
Valued Contributor

Re: Using a long-unused credit card already on acct - my credit score drops?

There are two factors that will have affected your score.  One the is PIF of the Dillards account which will be positive. The other factor is the dormant account now being active. How much if at all that account was being factored into your score is another factor. I would say the bigger factor should be the PIF of the Dillard account. I would be interested in hearing how much of a change it tunrs out to be.

Equifax My FICO score 814 11/29/2016, Discover TU FICO 807 12/29/2016 Citibank Equifax Bankcard FICO score 827 12/27/2016 Average of Accounts 13 years and no Installment accounts, 1 TU inquiry in 2015
Message 15 of 18
Regular Contributor

Re: Using a long-unused credit card already on acct - my credit score drops?


AndySoCal wrote:

There are two factors that will have affected your score.  One the is PIF of the Dillards account which will be positive. The other factor is the dormant account now being active. How much if at all that account was being factored into your score is another factor. I would say the bigger factor should be the PIF of the Dillard account. I would be interested in hearing how much of a change it tunrs out to be.


I'll be sure to let you know.  I think it reports around the 12th, off the top of my head.  Thanks for your input.

Starting Score: 542 (in 2006)
Current Score: 661 (TU FICO), 677 (EQ FICO), 672 (EX FICO)
Goal Score: 750+
Message 16 of 18
New Member

Re: Using a long-unused credit card already on acct - my credit score drops?

I have a card that I use infrequently. About every 3 months there is a situation when previous month balance was zero, and present month balance is $20-30. Every time this happens, my rating drops by 15 points. Never ever allow your balance to drop to zero! Disable auto-payment  option - it might leave you with zero balance.

Message 17 of 18
Highlighted
Super Contributor

Re: Using a long-unused credit card already on acct - my credit score drops?

 OLD THREAD ALERT

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 18 of 18