Do open accounts reported to credit bureaus reflect negatively on your credit even when you paid on time?
Capital One reported a balance of $29 to my credit report. I pay all my balances early. It currently says it's an open account and it is in good standing. I even called Capital One and they said they report balances monthly. Will this reflect negatively on my credit even when I paid on time? Just a little worried.
- 6 months ago
Not at all, no.
- 6 months ago
Yes it sure is the case
- InLv 76 months ago
Having accounts in good standing positively affect your credit report. It shows that you use credit responsibly and are a good credit risk.
- zipperLv 66 months ago
Your credit is based on open and closed accounts and if you pay on time or not. So this balance check pretty much means nothing.
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- StephenWeinsteinLv 76 months ago
Technically, yes, but not significantly if it's only $29. It's not negative enough to even notice the effect until it reaches 10% of your credit limit and it's not really bad until it reaches 30% of your credit limit.
- Pearl LLv 76 months ago
hopefully it wont, i would just call thern up and ask thern
- real estate guyLv 76 months ago
actually it will help you. Open accounts in good standing with no balance show you know how to use credit. For more information, google "should I close a credit card account".
- JudyLv 76 months ago
It can, for example if you use all your available balance
- Beverly SLv 76 months ago
All accounts report monthly... If you have a balance on the day they reported it will show. If they report after you have paid it shows zero balance but still reports. This is how your credit score goes up or down. Paying on time makes it go up.
- Katie MLv 76 months ago
No, if you are paying your debts on time, an open account does no affect your credit. Keep up the good work!