Will my credit score drop if I don’t use it?

oklatom

Several things can cause a negative credit impact. Closing a credit card. Having more than 2 hard inquires in a short period. Not using a card for years if the company then drops you. Using more than 30% of your limit. Late payments. Having only one credit card. Having a card for a short time. Avoid the negatives. Have more than one card. Use them but pay them off when due. It will continue to improve.

Steve D

Closing an account (especially one you have had for a long time) hurts your score. Closing an account lowers your available credit" which is about 30% of your score and if it is your only card, probably drops the "length of credit history" part of your score, which is worth another 30% or thereabouts. You would be better off just shredding the card, leaving the account open (unless there is an annual fee) and just not using the account. Although you would not be adding to your payment history, you also won't be hurting your length of credit and your available credit numbers.

nt

closing an account will hurt your credit. It may recover. It would recover for people who had other credit and were never late.

Mateen

i am crazy

Beverly S

Don't close it, just stop using. Closing it reduces your score since it makes your "available" credit lower.. I would actually pay it in full, then use it occasionally to buy gas or groceries, but pay the full balance each month by due date for the best score.

Big Daddy

Yes, it will. Your rate of credit utilization affects your score, and since you've closed your only open line of credit it will negatively affect your score.

Laurie

Your credit score will drop the most if you don't pay the bill you do have on time.