General Credit Topics

[ashdown1967]

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?

[pizzadude]

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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?

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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 ?

[ashdown1967]

Hello, 

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

Thanks                                                                     

[pizzadude]

What is your current utilization and what would it look like with the 1,400 CL added ?

[ashdown1967]

Hello,

Right now my utilization is 70 percent.

Thanks

[pizzadude]

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.....

[ashdown1967]

Hello,

It is 4700

[pizzadude]

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 ?

[MarineVietVet]

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ashdown1967 wrote:

Hello,

It is 4700

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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.

[ashdown1967]

Thank you guys so much.