curlytop Posted August 22, 2003 Report Share Posted August 22, 2003 If the creditor reports $0 as your credit limit, does the scoring use the high balance for utilization numbers? ie- Rob/May reports "Credit Limit-0, High Balance-$266" What about car loans? Mine says "Credit limit- 0, High Balance $20,000". Will they use the high balance for this, or does it even matter for installment accts?Thanks. So much to learn!!! Link to comment Share on other sites More sharing options...
kb9tbq Posted August 22, 2003 Report Share Posted August 22, 2003 I think at some point I had read that zero balance accounts actually are not contributing to the utilization part of the credit score, you have to revitalize them from time to time,Installment accounts I think make a bit of a contribution but not like revolving accounts. Link to comment Share on other sites More sharing options...
curlytop Posted August 22, 2003 Author Report Share Posted August 22, 2003 Thanks, Kb! Good to know. These DO have balances though. So....? Link to comment Share on other sites More sharing options...
kb9tbq Posted August 22, 2003 Report Share Posted August 22, 2003 As long as a balance is involved, it is contributing to the scores, that much I do know for fact,Charge cards mainly, but I do believe the installment loans do help this also. Link to comment Share on other sites More sharing options...
Recommended Posts