I love it when my score drops cause a card I haven't used in 15 months is closed by the issuer. I didn't ask for that. Leave it alone.
I just got a notice that my FICO score decreased by 17 points today because I didn't use one of my credit cards last month. So now I'm being penalized for having a $0 credit card balance. This is all a big scam to keep us consumers spending on things that we don't need.
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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Yup. I zeroed mine out and every time I leave a balance for a few days (literally) my score goes down. And I’m the 800’s!
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Happened to me too. I had too many cards that I'm not using. The problem is that if you go to cancel cards, they hold that against you too.
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A trick I was told and it works.. Just use a card to buy a pair of socks or something small, then pay immediately
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Unless you closed the account that can’t be true
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Fico measures these things: 1) outstanding balance (lower is better); 2) balance to credit ratio (lower is better); 3) credit history (more is better); 4) missed/late payments (fewer is better). If the account you didn’t use remains open, it can only help your score.
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Mine has dropped several times because I use my cards so infrequently my limits have been decreased. It's damn if you do damn if you don't.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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And if you choose to cancel said -0- balance card (or if the bank chooses to do so for lack of use), your FICO score will decrease yet again since your outstanding debt (even if paid off every month) to available credit ratio will increase w/the loss of the card's open balance
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Yup. I learned that the hard way.
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Then when you use a card your score goes down for using too much credit
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Use less than 30% of the available credit &pay it off each month.been doing this for a year now. My score moved up 7 points in a year.They say I don’t have enough credit so my score is lower than I want.I only use it for gas &food or small. Such BS
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