The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/as-long-as-neither-you-nor-the-creditor-cancel-25627605.aspx

Subject:  Re: question about credit cards Date:  6/27/2007  7:12 AM
Author:  yddeyma Number:  254923 of 308225

As long as neither you nor the creditor cancel the account, it will remain an active account

This is not quite true, as far as I understand it. As long as no one closes it the account will remain OPEN. For it to be ACTIVE you have to actually use the thing.

Again, as far as I understand it, inactive accounts don't hurt you really, they just don't count as much towards your Fico. Having something go from being listed as active to being inactive could cause a drop in Fico.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us