Does a paid account help Credit report?

[Schmidlin]

Hi, I have a question with regards to my credit reports, i'm not sure if this is the correct forum for it?

 

I currently have a Barclays credit card which is currently fully paid off and has been updated as of 15/12/2013 and shows my credit limit, but I was told that the account was shut and I needed to re-apply if I wanted to use it. I'm not too bothered about using it, but my questions is, does it currently help my credit status as it is? Or should I get rid of the account to boost my credit status?

 

Many thnks for your help.

[BRIGADIER2JCS]

Hi, account closed balance £00.00? If so it will have no impact on credit status.

[Schmidlin]

Hi, Barclaycard says the account is closed and when I rang them a year ago they said I would need to re-apply if I wanted to use the account again, but the account on my credit files shows it as open, with a nil balance and updated on 15/12, so should I ring them to get it closed on my credit file, as it isn't helping my credit status? Or leave it as it helps my credit status?

[BRIGADIER2JCS]

Open will a nil balance might be a good point possibly indicating it's paid off each month.

 

Personally I would recommend putting a request for closure in writing to BC given their drastically poor customer services.

[slick132]

Hi Schmidlin,

 

Despite what the CRA file shows, I suspect any attempt to use the card will be declined.

 

I doubt the a/c will currently have much impact on your CRA status, neither positive nor negative.

 

If you want to make a positive improvement to your CRA rating, you should use the credit card monthly but clear the balance in full each month. This will avoid interest chgs.

 

However, if you suspect asking them to reopen the a/c will be declined due to other adverse CRA data, you may be better NOT applying for now.

 

[Schmidlin]

Hi, thanks for replies, but I dont want use the card, as i dont want anymore credit, i cant use it at the minute as i dont have a valis card and dont want to ask for a replacement, i just wondered if it would be better to ask BC to close the account on my credit file (as I owe nothing) or leave it showing as open but with a nil balance?

[slick132]

I doubt it'll make much difference if the a/c remains open or is closed, as far as your CRA files are concerned.

 

However, if you have no intention of using the card, I would write to BC and close the a/c.

 

Leaving it dormant makes no sense to me.

 

[Schmidlin]

Prefect, I'll do that, thanks everyone for all your help.