Saturday, February 27th, 2010
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?
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.
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Hope this help,
February 27th, 2010 at 9:00 pm
It will appear as "credit available" and SOME creditors may hold that against you. If you make 5,000 per month, and have 20 credit cards with 1,000 limits – but you NEVER use them – it still counts as having the POTENTIAL of having 20,000 worth of debt (if you decide to use them).
(I’m not using money symbols to keep this generic for all countries!)
One probably won’t matter. Any more and I’d start getting concerned.
References :
It happened to me.