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Open account with $0 credit is bad right?

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FicoPower
Regular Contributor

Open account with $0 credit is bad right?

I remember hearing a while back that having an account (such as store credit for example) that has $0 credit is not good on your report is this correct?  About six years ago I opened a store credit at King Size and they report as having a $0 credit limit.  I wonder how this is impacting my FICO score if at all.  However I wonder if they are using this card as my length of credit card history which could be a good thing.  Thanks and by the way for some reason I cannot post replies to any topics. The browsers (IE, FireFox, Chrome) just hang up so if I cannot reply I just want to say thanks for the reply in advance Smiley Happy  I contacted the support staff and wasn't helped.
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GFer
Valued Contributor

Re: Open account with $0 credit is bad right?

The only time it would hurt you if your cl is reporting -0- is if you are carrying a balance on the account. If it's paid off, then it's not a big deal.


EQ 817, EX 815, TU 813 (Updated 1/5/18: TU 843

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GFer
Valued Contributor

Re: Open account with $0 credit is bad right?

The only time it would hurt you if your cl is reporting -0- is if you are carrying a balance on the account. If it's paid off, then it's not a big deal.


EQ 817, EX 815, TU 813 (Updated 1/5/18: TU 843

Take the myFICO Fitness Challenge
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