Question:
Is there a difference between a revolving account reporting pays as agreed (no actual payment) versus pays as agreed with an actual payment being made?
I have a few credit cards that are collecting dust. One card, I know I haven't used in over a year because it doesn't have rewards and it can't be tracked via Mint, a double whammy for me. Another card was simply a balance transfer card that served its purpose and is paid off. I watched this video by Screaming Lincolns. In the video, Cap argues that each card should has a small recurring charge/payment that can be easily managed by autopay to ensure a payment is reported each month. When, I look at my credit reports, I see the OK. What that doesn't indicate is whether or not a payment was made.
OK or PAYS AS AGREED are the same regardless of if you had a balance and paid it or didn't use the card at all that cycle. Aka GOOD
As long as the card is reported each cycle there will be something shown for that month. If it happens to be empty then the card wasn't reported that cycle, not a bad mark on the report but worth calling and asking if they're late reporting or something else is up.
..IF some underwriter or computer was to try and predict something by looking for balances being reported, payments being made.. maybe it's something useful in their [re]consideration but it's probably not a factor to worry about unless you do AZEO and never let balances report.. the non issuing FI may construe that as someone not using their (other) credit. The issuer obviously knows what is going on with the card(s) they issued.
Your cards are tracked by the creditors and the 3 CRA's. Not Mint. Its best to put something on the card to show some activity like a tank of gas. Then pay it. Many lenders are closing accounts for non use. When it comes to You Tube. Ignore it. I like the ones on how to remove a BK. Yeah right. Its either pays as agree or late. As you said you used the BT Card until PIF. So yeah pays as agreed.
@mrgarrettscott wrote:Question:
Is there a difference between a revolving account reporting pays as agreed (no actual payment) versus pays as agreed with an actual payment being made?
I have a few credit cards that are collecting dust. One card, I know I haven't used in over a year because it doesn't have rewards and it can't be tracked via Mint, a double whammy for me. Another card was simply a balance transfer card that served its purpose and is paid off. I watched this video by Screaming Lincolns. In the video, Cap argues that each card should has a small recurring charge/payment that can be easily managed by autopay to ensure a payment is reported each month. When, I look at my credit reports, I see the OK. What that doesn't indicate is whether or not a payment was made.
I do not believe there is any difference, in terms of its effect on your scores.
Nonuse, however, could lead to account closure or credit limit decrease.
