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NEVER use your credit cards? You could be putting your credit score at risk without even knowing it! In this video, Calvin Russell explains what happens when you leave credit cards unused, why banks may close your accounts or lower your credit limits, and how that could affect your credit score. Plus, learn a simple way to keep your cards active and protect your credit history!
#creditcards #creditscore #credittips
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📚 Chapters:
00:00 Introduction and why credit card activity matters
00:18 Inactivity risks: card closures and non-usage fees
01:18 Keep cards active: use a bill and autopay
01:36 Does not using a card hurt your score?
02:10 Credit age explained: the power of old accounts
02:32 Utilization basics: individual vs total utilization
03:38 Call to action: schedule a credit qualification call
04:03 How a closed card changes your utilization ratio
05:02 Unused cards still boost credit age (if they stay open)
06:07 Closed accounts still count for credit age until they drop off
07:02 Should you keep old credit cards open? Yes, here is why
07:39 Simple strategy: put a recurring bill on autopay
08:05 Usage frequency and limit adjustments: 2-4 times/year
09:02 Credit limit impact: usage increases vs non-usage decreases
10:36 Balance vs zero balance: why small regular use is better
11:51 Managing cards you no longer need: small bills vs closing
12:27 Final reminder and CTA: free ebook, 850 Club and help options
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Disclaimer:
The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Calvin Russell is not a financial advisor. This video is for entertainment and educational purposes only, it is not financial advice.
This page contains affiliate links, meaning that I may earn a commission if you click through these links and sign up or buy the product or service mentioned.