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If I have a credit card with a limit of 25K but no balance on it. Is it viewed as debt regardless?
If it is the only form of credit you have and its at a zero balance, you have no debt.
@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.
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@ecocredit wrote:If I have a credit card with a limit of 25K but no balance on it. Is it viewed as debt regardless?
@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?