I have credit cards for certain stores and I don't use them that often. Is it hurting my credit score to have credit cards that I'm not using? I'm not racking up huge balances, I always pay them off I'm just worried about my credit score.
2007-02-06 14:11:22 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
It should not hurt your score - having credit lines but not using them is OK. if you use more than 75% of your credit lines - that's when it may begin to work against you.
On the other hand it won't help your score too much as there is no usage history - so nothing to give you a "pat on the back" for managing your credit well!
2007-02-08 10:28:54 · answer #1 · answered by Beer Boy 2 · 0⤊ 0⤋
The best thing you can do for your credit score is to use your card(s) periodically and pay the balance in full, on time, every month. The object is to show a history of responsibility. Your rating will be A+.
2007-02-06 22:16:18 · answer #2 · answered by keepsondancing 5 · 0⤊ 0⤋
If you have many credit cards open, but you don't use them, it doesn't hurt your credit score, but some lenders and banks will hesitate on giving you a loan or credit because you have a lot of available credit elsewhere. They don't want to risk having you one day max all your available credit up, and them you'd be unable to pay it all back.
2007-02-06 22:16:12 · answer #3 · answered by David Fernandez 2 · 0⤊ 0⤋
it actually helps your score to have cards with high credit limits and no balances. but in a way it is a risk of identity theft.
2007-02-06 22:14:59 · answer #4 · answered by Sufi 7 · 1⤊ 0⤋
It should help your credit score.
2007-02-06 22:18:51 · answer #5 · answered by Anonymous · 0⤊ 0⤋
no it does not. you score just remains there. but if you decide to start, make sure that you pay on time.
2007-02-06 22:23:38 · answer #6 · answered by Anonymous · 0⤊ 0⤋