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Revolving Utilization: No valid accounts

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Cedes
New Member

Revolving Utilization: No valid accounts

Does this mean, my account shows no credit cards? I have credit cards but their closed and are in good standings. I recently got a credit card that should report this month on the 15th. Is it a chance that my score can have a sufficient jump once my credit card reports?

Message 1 of 4
3 REPLIES 3
FireMedic1
Community Leader
Mega Contributor

Re: Revolving Utilization: No valid accounts

Since all the accounts you speak of have $0 Balance and closed. Theres nothing to score in the usage arena. Once you get the next card that will be listed as 1 open card and whatever you have it report at. Comes down to utilization %'s. Closed good standing $0 balance cards dont count in the util % catagory. Just all the age metrics will be taken into account once opened. The closed cards will stay on your reports on a avg of 10yrs +/-.


Message 2 of 4
Remedios
Credit Mentor

Re: Revolving Utilization: No valid accounts


@Cedes wrote:

Does this mean, my account shows no credit cards? I have credit cards but their closed and are in good standings. I recently got a credit card that should report this month on the 15th. Is it a chance that my score can have a sufficient jump once my credit card reports?


Yes, you will get points for having an open revolving account. 

Don't forget to let it report small balance because if it reports $0.00 you probably won't see increase since All Zero penalty (when all revolving accounts report $0.00) will eat all the new points. 

 

Congrats on your new card 

Message 3 of 4
SouthJamaica
Mega Contributor

Re: Revolving Utilization: No valid accounts


@Cedes wrote:

Does this mean, my account shows no credit cards? I have credit cards but their closed and are in good standings. I recently got a credit card that should report this month on the 15th. Is it a chance that my score can have a sufficient jump once my credit card reports?


If you have no open accounts it's probably a reference to that.


Total revolving limits 569520 (505320 reporting) FICO 8: EQ 699 TU 696 EX 673




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