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ecocredit
New Contributor

Credit cards

If I have a credit card with a limit of 25K but no balance on it. Is it viewed as debt regardless?

Message 1 of 5
4 REPLIES 4
SamsungHDTV
Established Contributor

Re: Credit cards

If it is the only form of credit you have and its at a zero balance, you have no debt. 

Message 2 of 5
ezdriver
Senior Contributor

Re: Credit cards


@ecocredit wrote:

If I have a credit card with a limit of 25K but no balance on it. Is it viewed as debt regardless?


A zero balance means no debt. It is just a tradeline ... which happens to have a spending limit of 25K.

Message 3 of 5
JoshNurse
Frequent Contributor

Re: Credit cards

http://media-cache-ec0.pinimg.com/originals/fe/91/a3/fe91a3dc38b1981226c5c025fc759674.jpg


@ecocredit wrote:

If I have a credit card with a limit of 25K but no balance on it. Is it viewed as debt regardless?


 

Message 4 of 5
14Fiesta
Established Contributor

Re: Credit cards


@ecocredit wrote:

If I have a credit card with a limit of 25K but no balance on it. Is it viewed as debt regardless?


Are you talking as factored into DTI calculations?






EX FICO (AMEX): 728 (4/29/17) | TU FICO (Discover): 737 (4/7/17) | EQ FICO (Citi): 746 (3/28/17)
Message 5 of 5
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