najerme wrote:
Thanks so much fused. That is a big help. As I put more thought to it, however, I do have a follow up question......I do have four dept store cards (i.e. 2 Best buy (one should be closed??), roomstore, and Dell) and two HSBC credit cards with a $300 balance showing up in my OPEN accounts. They all have a zero balance, and none of the dept store credit cards are no longer updating to the CRAs...only my small credit cards and Discover card are.
With that said, I am wondering if all of these dept store cards are being included in the utilization ratio? I have done some research and found that after dept store accounts become inactive for so long, they are no longer included in the utilization calc, but they are listed in my OPEN accounts. I am assuming that all OPEN accounts are included in the utilization calc. Which is correct?
Also, my two little $300 balance credit cards are turning 2 yrs old in September. Will I see a jump in my score for their 2 yr anniversary?
Sorry for so many questions. I am trying to understand how the system works.
Thanks so much for you help!
Closed CCs with zero balances do not factor in util% calculations, same applies to inactive accounts with zero balances. All open CC accounts factor in util% calculations.
As for a bump in your scores with two of your CCs turning two years old, hmm...maybe yes, maybe no it's hard to say for sure.
