New Contributor
Posts: 61
Registered: ‎09-19-2010
Re: Fico Score did not improve after 7 month credit card activity

Dear jamie123,


Copy and paste from my earlier comment in this thread:  My comment:

"Re: Fico Score did not improve after 7 month credit card activity

Thank you so much for all your comments. I stopped using my cc after they increased the rate from 5.5% to 15.9%. Was paying everything with a debit card. 7 months ago, decided to use the cc and pay fast to avoid interest charged and only to show activity at suggestion of this forum. I have no need for a second card, would not use it. I'm 66 and retired, don't need to buy a lot of stuff as before at a younger age.


Still want to report the error, I have had 7 months of activity on my cc and for this new Fico cr to say " I have no recent activity on my credit card" is wrong! I want that corrected. I paid for the report and it s not accurate. How do I get it corrected please?


Thank you."


When we bought our present home 3 years ago, took out a mortgage, credit score dropped. Just recently, we recouped the score we had prior to taking out the mortgage to purchase our home.


If you read the future scoring scenarios provided by My Fico within the credit report, if one takes out a new credit card, one enitaly receives a reduction in their score. I have no need for a second credit card, I'm only using my card now to show activity. We continue to pay for everything with cash or debit card. If I wanted a new car, I could pay for it in cash, no need to finance. We are fortunate in that way.  I just want the best possible score prior to purchasing our final retirement home. As you rightfully pointed out in your illustration, the best scores receive the lowest interest rate. That could save us thousands over time. 


What you have done worked well for you. I just can't jusify taking out a second credit card at high interest rates when we don't  need our existing card. Yes, I know, I can pay the balance before the interest attaches, that is what I have been doing for the lasts 8 months to show activity.