Author Topic: Misc Credit Card Questions  (Read 1864985 times)

Online CountValentine

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Re: Misc Credit Card Questions
« Reply #9560 on: October 26, 2020, 12:23:19 AM »
If you do not use your credit card at all then after about six months Fico will consider the card inactive and will 95% not count in the positive history for this card into your Fico score.
Source?
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Online Yo ssi

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Re: Misc Credit Card Questions
« Reply #9561 on: October 26, 2020, 12:23:47 AM »
My understanding is that your credit score is like trust, if you don't build up the trust, meaning if you don't use your card and borrow the money then how can the trust be built?

Not using your credit doesn't show that your trustworthy. Having the ability to spend 10,000 and you only spend (on credit) $1 means your trustworthy (obviously you gotta pay it up)

@Samb
Who is fico to consider your card inactive?
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Re: Misc Credit Card Questions
« Reply #9562 on: October 26, 2020, 12:25:26 AM »

So basically at least (within) every 6 months. Otherwise, I'm not hearing anything else concrete to create activity for your credit score.
Have one card close with a couple bucks balance will help your score. I take issue with the part that says your score will "greatly" increase. I get 6-8 points boost.
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Offline lcm

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Re: Misc Credit Card Questions
« Reply #9563 on: October 26, 2020, 12:27:13 AM »
Have one card close

One out of many or each open card?

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Re: Misc Credit Card Questions
« Reply #9564 on: October 26, 2020, 12:27:24 AM »
Have one card close with a couple bucks balance will help your score. I take issue with the part that says your score will "greatly" increase. I get 6-8 points boost.
Per month? Perhaps it's because your only doing it on one card?
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Online Yo ssi

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Re: Misc Credit Card Questions
« Reply #9565 on: October 26, 2020, 12:27:59 AM »

One out of many or each up open card?

 ??? :o
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Online CountValentine

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Re: Misc Credit Card Questions
« Reply #9566 on: October 26, 2020, 12:28:52 AM »
One out of many or each open card?
One card out of all your cards.
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Re: Misc Credit Card Questions
« Reply #9567 on: October 26, 2020, 12:30:10 AM »
Per month? Perhaps it's because your only doing it on one card?
It only helps in the months you do it. You skip a month and your score goes down.
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Online Yo ssi

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Re: Misc Credit Card Questions
« Reply #9568 on: October 26, 2020, 12:30:24 AM »
One card out of all your cards.
Proof?

(Not in a harsh way)
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Re: Misc Credit Card Questions
« Reply #9569 on: October 26, 2020, 12:30:52 AM »
Proof?
creditboards.com  :P
Where do you think this came from?
Search $2 trick.
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Re: Misc Credit Card Questions
« Reply #9570 on: October 26, 2020, 12:32:35 AM »
creditboards.com  :P
Where do you think this came from?
I'm currently doing it on 3 cards and missed one card for 2 months and saw a difference.

Perhaps @Dan can shed some light

Search $2 trick.
Is it $1 or $2? ;D
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Re: Misc Credit Card Questions
« Reply #9571 on: October 26, 2020, 12:35:18 AM »
I'm currently doing it on 3 cards and missed one card for 2 months and saw a difference.

Perhaps @Dan can shed some light
Is it $1 or $2? ;D
$2 is safe because some cards would not register with a $1 balance. Not sure if that is the case any longer.
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Re: Misc Credit Card Questions
« Reply #9572 on: October 26, 2020, 12:37:40 AM »
One card out of all your cards.
Perhaps your longer depth of credit makes it that it doesn't fluctuate so much like Yo ssi who is considerably younger
I'm currently doing it on 3 cards and missed one card for 2 months and saw a difference.
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Re: Misc Credit Card Questions
« Reply #9573 on: October 26, 2020, 12:41:24 AM »
Perhaps your longer depth of credit makes it that it doesn't fluctuate so much like Yo ssi who is considerably younger
Your score will have an effect on it. If you are 800+ don't expect as many points as someone who has a 700 score.
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Re: Misc Credit Card Questions
« Reply #9574 on: October 26, 2020, 12:44:43 AM »
Your score will have an effect on it. If you are 800+ don't expect as many points as someone who has a 700 score.
obviously, that's why I wouldn't call it
#fakenews
to someone who's trying to build credit.
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Re: Misc Credit Card Questions
« Reply #9575 on: October 26, 2020, 12:45:55 AM »
Your score will have an effect on it. If you are 800+ don't expect as many points as someone who has a 700 score.
If your at 800+ having an extra 6-8 points is quite significant.

Have you tried doing it with more cards?
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Re: Misc Credit Card Questions
« Reply #9576 on: October 26, 2020, 12:47:22 AM »
obviously, that's why I wouldn't call it  to someone who's trying to build credit.
The "greatly" part is what I take issue with. Are we talking a 40-50 point increase, I don't think so.
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Re: Misc Credit Card Questions
« Reply #9577 on: October 26, 2020, 12:48:27 AM »
The "greatly" part is what I take issue with. Are we talking a 40-50 point increase, I don't think so.
To fix that issue just fix your presumption of greatly ;)

You also have to compare it to people with low credit lines when they spend 500 that could be half their credit line and can make a huge difference.
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Re: Misc Credit Card Questions
« Reply #9578 on: October 26, 2020, 12:49:21 AM »
If your at 800+ having an extra 6-8 points is quite significant.
Say what? They are completely useless at that point. I only did it to test things.
What is 808 going to get you that 800 won't?  :)
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Re: Misc Credit Card Questions
« Reply #9579 on: October 26, 2020, 12:50:25 AM »
To fix that issue just fix your presumption of greatly ;)
I forgot I am on DDF and having discussions with individuals that don't believe 1+1=2.
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