How Does An Unused Credit Card Report On Your Credit Report?
If I have a credit card that I do not use, how does this account reflect on my credit report? Does it show an open account in good standing?
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2 Responses to “How Does An Unused Credit Card Report On Your Credit Report?”
Comment from gino
Time July 28, 2009 at 5:55 pm
Well, depending on your debt to income ratio and how many cards you have or the outstanding balance of these cards If you don’t use the card it can have a negative reflect on your credit report.Basically, it’s a game that you have to play.you can’t use it to much but than you can’t use it to little.You have to pay it off fast but not to fast to establish more or better credit history.So to answer your question yes it is in good standing for now but if you take too long to use it, it can a bad thing.Credit is established and improved through use and paying it off.
Comment from Colorado Papa
Time July 28, 2009 at 3:10 pm
It shows on your credit report as X number of dollars credit allowed, zero for maximum use and zero for outstanding balance. But it does add to your credit score just because someone issued it to you.
cp