Revolving Credit

Discussion in 'Credit Talk' started by Linda, Apr 6, 2001.

  1. Linda

    Linda Well-Known Member

    Hi folks,

    As raunchy as my credit is (multiple charge offs, open collections, etc.) I applied for and got an on the-spot-card from NTB (National Tire & Battery) with a $600 credit limit this past November. It's listed on my credit report as a revolving account. First question: Is this computed in the FICO formula as if it were a regular revolving unsecured credit card when it comes to figuring out my score? Around that same time I also applied for and got two local department store charge cards (Mervins and Bealls) with low credit limits which is fine with me. Second question: Are high limits on cards necessary to boost FICO scores or is it just the ratio of current balance to credit limit? At this time I don't have or desire additional charge cards or higher limits on my current cards so I'm hoping what I have now is good enough for re-establishing some open/never late accounts.


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