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Originally Posted by Mousebaby  That's what Lowe's said to us and we have always paid it off pretty quickly and have never been late. We have had problems getting credit lately and I found out that it's because we refinanced and closed all of our credit accounts so now they consider it that we have no credit and we are a risk. What kind of  is that??? |
When you don't have any debt they consider your credit history new, your credit score is partially based on how long you've had a credit history. When you pay off long standing accounts, in order to have longevity in your credit history you would need to keep it open and use it occasionally. I found this out some time ago, so even though I rarely use my oldest accounts, I never close them.