On an Experian credit report, what does "Status Inactive/Never late" mean? This account is a revolving credit card that was last used in 1996. I don't want this to look like an open revolving credit card.
Leave it alone. It is "open" but it is used when computing your balance to limit ratio! I have a $1500 inactive. I have a $1500 loan that is paid but listed as open. I have 2 CCs that are 612 on 700 and 260 on 300. (yeah I plan on paying them down). But I show 64% available in the limit to bal ratio. Whereas, if I did not leave those accounts alone, I would be at 90% usage!
Wow, that's amazing that it is open. Actually I have two of them on my Experian report. One is a credit card that was opened in 87 and last used in 93, last reported in 96 with a CL listed as NA. The other is a small store card that was opened in 88 and last used in 94, last reported in 96 with a CL of about $200. The problem is that with these two card open and my closed Nextcard, which is now listed as open, I have 8 revolving accounts. Generally I don't go over 15% CL utilization so the CL issue is not a problem. I am just wondering if having these accounts open will make it harder to get more credit cards?
The problem is whether they are open, or you close them, you'll still show as having 8 revolving accounts. When I first started, EXP showed 3 or 4 old accounts from the 80's as being open. Dumb me closed them all. I didn't know my score then, but I don't think it hurt them too much, because they are still showing in the age of my credit, because they were open for 15 years. A couple I HAD to close, as I was disputing and didn't want them to pull hards. The other 2, I should have just left open I guess.
I just did the same thing the other day. I must have taken an extra stupid pill that day. I had an old FCNB/Spiegel account (opened in 93) with a $2300 limit that was reporting "Open/Never Late". I disputed it as closed and lost 2 points. Sheesh...you'd think I'd know better!
Yes. It just goes to show that one should be thoughtful before disputing any positive accounts. Thanks all. I guess I will leave the two account alone, especially since one of them is my oldest open revolving account.