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New Contributor
ashdown1967
Posts: 73
Registered: ‎06-26-2012
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Credit utilization

Hello,

 

I have a furniture account that has a zero balance and is open, but I haven't used it for about two years. It is not being included in my credit  utilization.  If i used it for something small would that help my credit score or hurt it?

Moderator
pizzadude
Posts: 8,974
Registered: ‎01-28-2010
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Re: Credit utilization


ashdown1967 wrote:

Hello,

 

I have a furniture account that has a zero balance and is open, but I haven't used it for about two years. It is not being included in my credit  utilization.  If i used it for something small would that help my credit score or hurt it?


At some point idle accounts are removed from utilization ~ if it lowers your revolving utilization then it might help your FICO score.   What is the credit limit ?

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
New Contributor
ashdown1967
Posts: 73
Registered: ‎06-26-2012
0

Re: Credit utilization

Hello, 

 It is only 1,400 dollar, but it is not being included in the credit utilization.

 

Thanks                                                                     

Moderator
pizzadude
Posts: 8,974
Registered: ‎01-28-2010
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Re: Credit utilization

What is your current utilization and what would it look like with the 1,400 CL added ?
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
New Contributor
ashdown1967
Posts: 73
Registered: ‎06-26-2012
0

Re: Credit utilization

Hello,

 

Right now my utilization is 70 percent.

 

Thanks

Moderator
pizzadude
Posts: 8,974
Registered: ‎01-28-2010
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Re: Credit utilization

Ok what is the total of all your revolving credit limits ? Need to know this to determine how significant adding the $1,400 will be.....
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
New Contributor
ashdown1967
Posts: 73
Registered: ‎06-26-2012
0

Re: Credit utilization

Hello,

 

It is 4700

Moderator
pizzadude
Posts: 8,974
Registered: ‎01-28-2010
0

Re: Credit utilization

 

If my math is correct your utilization would be around ~55% if you charged a very small item on this account and the $1,400 is added into your revolving utliization total credit limit.    So you might see a small FICO gain, YMMV.    

 

Can you pay down your balances ?  Or possibly request CLIs on the other accounts ?

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009
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Re: Credit utilization

[ Edited ]

ashdown1967 wrote:

Hello,

 

It is 4700


So that means right now your total balances are around $3,300? (Total balances of $3,300/ Total credit limits of $4,700 = 70% utilization).

If you add that $1,400 to your CL's that would make your overall utilization 54% ($3,300/$6,100).

 

ETA: Outtyped (once again) by pizzadude.

New Contributor
ashdown1967
Posts: 73
Registered: ‎06-26-2012
0

Re: Credit utilization

Thank you guys so much.


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