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My oldest CC was opened in 2000 - my Capital One Platinum VISA. After I paid it off back in November, it sat dormant and my new cards took over. I don't want to close it so I decided I better use it before I lose it. Today gave me a little chuckle, but also found it interesting that this can actually positively affect my score:
Did it continue to report an "ok" status through those 6 months of inactivity?
@tufa4311 wrote:Did it continue to report an "ok" status through those 6 months of inactivity?
Yes it did - Only EX has it for May, the other two don't have it listed for May yet though. Maybe those scores will go up a point or two. It just was surprising to see it go up at all.
@Vulcan1600 wrote:
@tufa4311 wrote:Did it continue to report an "ok" status through those 6 months of inactivity?
Yes it did - Only EX has it for May, the other two don't have it listed for May yet though. Maybe those scores will go up a point or two. It just was surprising to see it go up at all.
Well if that's the case then...it has been stated many times here that is doesn't matter which cards you use for your UTIL and that you don't need to rotate. I like to rotate to give the luv back if you will, and to show usage. This seems to be saying that indeed it does matter that all your cards get usage, even if they keep reporting without usage. No usage for a certain period of time equals an inactive card that, when made active again, increases your score? Thoughts?
I assume the first comment will be that we don't know that the reason for the one point score increase was the card returning to an active state (even if FICO says that's the reason).
@tufa4311 wrote:
@Vulcan1600 wrote:
@tufa4311 wrote:Did it continue to report an "ok" status through those 6 months of inactivity?
Yes it did - Only EX has it for May, the other two don't have it listed for May yet though. Maybe those scores will go up a point or two. It just was surprising to see it go up at all.
Well if that's the case then...it has been stated many times here that is doesn't matter which cards you use for your UTIL and that you don't need to rotate. I like to rotate to give the luv back if you will, and to show usage. This seems to be saying that indeed it does matter that all your cards get usage, even if they keep reporting without usage. No usage for a certain period of time equals an inactive card that, when made active again, increases your score? Thoughts?
I assume the first comment will be that we don't know that the reason for the one point score increase was the card returning to an active state (even if FICO says that's the reason).
That's why I posted in my first message - it points to the 1 point increase due to using a previously inactive card. I guess it shows I'll never understand FICO scoring!
How much was the new balance reporting on this CapOne card?
That message is an information message configurable in the interface for Equifax. Can set it for 3 months as an example, more of a fraud prevention / unexpected use notification.
No bearing on FICO scoring.
@Vulcan1600 wrote:
@tufa4311 wrote:
@Vulcan1600 wrote:
@tufa4311 wrote:Did it continue to report an "ok" status through those 6 months of inactivity?
Yes it did - Only EX has it for May, the other two don't have it listed for May yet though. Maybe those scores will go up a point or two. It just was surprising to see it go up at all.
Well if that's the case then...it has been stated many times here that is doesn't matter which cards you use for your UTIL and that you don't need to rotate. I like to rotate to give the luv back if you will, and to show usage. This seems to be saying that indeed it does matter that all your cards get usage, even if they keep reporting without usage. No usage for a certain period of time equals an inactive card that, when made active again, increases your score? Thoughts?
I assume the first comment will be that we don't know that the reason for the one point score increase was the card returning to an active state (even if FICO says that's the reason).
That's why I posted in my first message - it points to the 1 point increase due to using a previously inactive card. I guess it shows I'll never understand FICO scoring!
I don't think anybody understands Fico scoring. Including Fico. It's been taken over by the machines and is now beyond the grasp of humans.