Credit Reports Using Checking Accounts
2010
i just checked my credit report for the first time 7 i noticed?
that i have a 3 accounts (one from crate & barrel,new york & company, victoria secret) that i opened in 2004 and i stoped using those cards in 2005. it says on my credit report that they are still open even though i havent used them since 2005. what do i do to close these acoounts?
also will this effect my credit score ( having open accounts and not using them for 3 years?
Having open accounts that are unused don’t really help your score, but they don’t hurt either.
The problem where they may hurt is if you decide to close them. Even though these are probably store cards and not major credit cards if these are your only cards, or your oldest accounts closing them will have a negative effect on your credit score and report. If you have other accounts that are as old or older than closing these out may lower your score, but you should be able to rebound from any drop within a few months.
If you really want to help your score you may want to use these cards minimally to show activity. Just be sure to pay them off every month to avoid any interest charges.
Personal Finance Tips : How to Get a Checking Account
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