I just paid off my balance and not planning to use my credit card at all...should i cancel it or just leave it. Will inactive account damage my score?
2007-10-02 06:50:25 · 8 answers · asked by Dina N 2 in Business & Finance ➔ Credit
I had a credit card that was at a 0 balance and I didn't use it for about 6 months and when I got my credit report it was a negative on the report. Having account histories is also important- if you are worried about it then just use it once a month to buy gas and then pay off the balance every month.
2007-10-02 06:57:45 · answer #1 · answered by like the ocean needs the waves 4 · 0⤊ 0⤋
It is better to use it once in a while, like buying gas and pay it off. Even it does not effect your credit, but because some credit card companies do close inactive accounts. Do NOT close them, because that will hurt your credit.
2007-10-02 07:29:24 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes it will. When banks evaluate you for a loan they always have this crazy notion that maybe you are going to max out an unused credit card the instant after you get that loan. So they always total available credit and use it against you.
If it is a card yo have had for a long time and you want to hang on to it so that you can show you had continuity in credit for a long time you could call the issuer of the card and ask if your available credit line could be reduced (have them report it to credit bureaus as being "at the user's request.")
2007-10-02 06:56:09 · answer #3 · answered by Rich Z 7 · 0⤊ 1⤋
Just leave it and use it every couple of months for something small and pay it off. This will keep the account active and help your score.
2007-10-02 06:53:58 · answer #4 · answered by ? 7 · 1⤊ 0⤋
I would leave it inactive. It's better for your credit that way because it increases the history.
2007-10-02 06:53:18 · answer #5 · answered by Colonel Obvious AM 6 · 1⤊ 0⤋
I think if you pay it off it wont affect your credit...just use it once a month for like gas or something and then pay it off. As long as there is acitivity it will help build your credit. :) Good Luck! :)
2007-10-02 06:54:04 · answer #6 · answered by Bella 3 · 0⤊ 0⤋
No it will not damage your credit score.
2007-10-02 06:55:02 · answer #7 · answered by lonnie c 1 · 0⤊ 0⤋
no, it wont, your score will only be affected if yo have a debt that you dont pay.
2007-10-02 06:53:26 · answer #8 · answered by gilly g 6 · 0⤊ 0⤋