I advise my client to use their credit cards every 3 months. BofA is notorious for closing inactive cards. If the banks are closing our cards due to inactivity then it can hurt both our utilization ratio along with history. Losing the history is more damaging then the utilization ratio.
Beth – I double checked with my contacts at Fair Isaac, the organization that created credit scores, and they tell me that yes, it does include department store cards.
I advise my client to use their credit cards every 3 months. BofA is notorious for closing inactive cards. If the banks are closing our cards due to inactivity then it can hurt both our utilization ratio along with history. Losing the history is more damaging then the utilization ratio.
Beth – I double checked with my contacts at Fair Isaac, the organization that created credit scores, and they tell me that yes, it does include department store cards.
Does this also include department store credit cards? Or is it just major credit cards?