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Good morning,
I opened a victoria secret card with the shopping card trick a couple years ago. I used it once and paid it off within a couple months. I haven't done anything with it other than request a credit limit increase to help my utilization.
According to my reports, this card stopped updating in February of 2015. It still shows as an open account and pays as agreed but not updating payment history each month.
I guess that makes sense since I haven't used it, however does that have any effect on scores? Is it better if they report good payment history every month?
If I bought something and paid it would they backdate the payment history for each month since Feb 2015?
When a creditor does their monthly reporting, the payment history profile is reported under the Metro 2 format as one continuous line of numbers, such as:
An example reporting would be a string such as:
22111000000101000EE088BBBB
Each month from current backwards is represented, with differing codes for each month indicating whether currrent, current with zero balance, delinquent and level, no history avaialble or reported, etc.
In their next reporting, they could go back and fill data not previously provided, or they could simply add the new month to the left.
It is entirely dependent upon the degree to which they modify their prior reporting, with the easier way to simply add the next month, and leave the prior reporting as it was.
Most credit card companies backdate payment information when you start using the card again. I had a credit card that I wasn't using much once, and I did see a mild boost in my scores when I started using it again.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |