Quick question, if I use a card that hasnt been used in 7 months and it has a zero balance and i decide to use it will that generate a possible score increase? I actually have a few cards like that right now.
Thanks
okay I only put 45 dollars on it anyway!
Simply using the card will not generate a score increase. However, if using the card and then letting the balance report changes your overall utilization, it may change your score. Usually not in a positive way.
What is your overall utilization and how many cards do you typically let report in a given month?
@SnackTrader wrote:Simply using the card will not generate a score increase. However, if using the card and then letting the balance report changes your overall utilization, it may change your score. Usually not in a positive way.
What is your overall utilization and how many cards do you typically let report in a given month?
@SnackTrader wrote:Simply using the card will not generate a score increase. However, if using the card and then letting the balance report changes your overall utilization, it may change your score. Usually not in a positive way.
What is your overall utilization and how many cards do you typically let report in a given month?
Ihave too many cards and some are from my husband as an authorized user. I have over 98,000 available creditand my utilization is running approximently 6-8% per month. I havent used some cards and im not looking to put large amounts on them. Im talking like 30-50 dollars on two of them. I recently had an update that stated "dormant card" active recently on myfico. I thought it might help.
@SnackTrader wrote:Simply using the card will not generate a score increase. However, if using the card and then letting the balance report changes your overall utilization, it may change your score. Usually not in a positive way.
What is your overall utilization and how many cards do you typically let report in a given month?
BOA- 3000/7500
walmart- 2/5000 yes two dollars
gte visa- 1400/2000
freedom- 60/500
tjx- 125/2500
care credit 1050/5000
No, don't let it report unless it decreases your UTIL. JUST last week, I forgot that my Car Care One card was going to report a $32 balance and my EQ went down 4 pts. The alert was "dormant card activity". It hadn't been used in only 3 months.
@Booboo71 wrote:BOA- 3000/7500
walmart- 2/5000 yes two dollars
gte visa- 1400/2000
freedom- 60/500
tjx- 125/2500
care credit 1050/5000
Yeah, with what you report here all the others are right. Letting an unused card report a balance will probably end up further hurting scores.
well i already used it! its a small amount and it was my lowes card i have a 5k limit charged a small amount i haventused it actually since february 2014 and i bought some stuff for the home then and did the 6 months free interest so after paying that off i havent used it. hope that makes sense? lol