Can a dormant credit card hurt my credit score?

If I have a credit card that I never use, will it damage my credit score? I know that closing it can.

Can a dormant credit card hurt my credit score?

Most of the people answering in the credit section have no clue about FICO credit scoring.

If you have a %26quot;dormant%26quot; (your term) credit card that you have had for a long time and it is not reporting any late payment then having that account and not using it will be a positive factor for your score. The thought that you can have too many cards and that is risky isn%26#039;t proven in the credit scoring model used by FICO. People who get into trouble usually carry balances on all their cards. If you have lots of accounts with zero balances that shows credit responsibility.

From a practical standpoint having 3-6 revolving accounts(with near zero balances) and 1-2 installment accounts(car, mortgage) will be %26quot;optimal%26quot; for attaining an Excellent credit score (720+) If you have more revolving accounts then you might consider which ones you don%26#039;t ever use and close them.

Good Luck

Can a dormant credit card hurt my credit score?

No

Can a dormant credit card hurt my credit score?

I don%26#039;t think it would hurt your score, but it definitely won%26#039;t raise it.

Can a dormant credit card hurt my credit score?

It depends on what you mean by dormant. If you mean you opened the account but havent used it for a long time and do Not owe a balance, no it will NOt hurt your credit. If you owe a balance, that is called revolving debt, it can be incurred again at any time, and they hold that against you. The best thing to do is to try to pay the entire balance in full every month when the statement comes, if possible. That is the best thing for your credit score.

Can a dormant credit card hurt my credit score?

Credit Cards are considered %26quot;revloving credit%26quot;. From what I understand they can have the biggest influence on your credit score. Usually keeping a %26quot;low%26quot; balence on a single card and make payments ontime is the best way to get your credit up. Banks/Credit Unions (and other loaners), look at your revolving credit to show how well you make payments ontime.

So in answer to your question... No it will not hurt your credit, but carrying a small balence and making consistant payments will help it.

Can a dormant credit card hurt my credit score?

Sometimes it can hurt your score if you have too many dormant accounts since it can look like you have too much access to credit already.

Can a dormant credit card hurt my credit score?

A dormant credit card can hurt your score if there%26#039;s a large limit/draw on it. If you owe nothing and your limit is, say, $25,000; you are at risk of maxing it out at anytime; which can ultimately hurt your score.

Can a dormant credit card hurt my credit score?

Nowadays, if you don%26#039;t use your credit card in 6 months or longer, it doesn%26#039;t do you any good. Use it once or twice a year to keep it active. You never know when you may need it.

Can a dormant credit card hurt my credit score?

No