Can having too much available unused revolving credit hurt my score?

I know the amount of credit used compared to the amount available is a big factor, but does having too much available revolving credit that i do not use harmful to my credit?





i am asking this question because i have a 1 year old kay jewlers account that i only used once and am never going to use again. should i keep this account open, or is it hurting my chances of geting other types of credit that i may actually need in the future?|||Having too many open credit card accounts can hurt your score, but we're talking a LOT of accounts -- maybe 50+. If you only have a few accounts on your report, it isn't hurting you.





Unless this is your only credit card account, I would close it. Keeping a stack of unused credit cards in the sock drawer is asking for problems with ID theft and fraud. If you don't use the account, it will likely be closed due to inactivity anyway. Or some cards are now charging monthly fees for inactive accounts.





Close the account via letter and request written confirmation that the account is closed and 0 balance. Keep the confirmation in your forever financial file. Closed accounts in good standing remain on your credit report for at least 10 years. They just don't count as much as open, actively used accounts.|||No. The less revolving debt you have, the higher your score will be. Therefore, the more available credit you have, the better.





However, banks are decreasing credit limits and closing accounts, so if you don't use your credit, you can lose it. It's a catch-22, but banks want to reduce possible liability.





Your Kay Jewelers account is good and will probably help you get approved for other credit. But the sooner the account is closed, the less of a hit to your credit it will make because it isn't a very old account. However, if this is your only credit account, then you want to keep it open until you obtain new credit. But like I mentioned before, if you don't use it, Kay Jewelers could close the account themselves.|||The amount of available credit is another signifigant factor in your credit rating because it can be used any time you wish. For instance if you apply for a home or personal loan, they will calculate your available credit into the mix because if you were to go out the day after you got a loan from them and spent thousands on a diamond, you'd have that diamond AND their loan to pay. Large amounts of available credit can bring down the loan offer or actually earn you a refusal in some cases...even if you have good credit.





That said, even if you know that you won't be using it ever again, it's only 1 year old. If you open and close an account in quick succession, that will be yet another red flag to potential lenders. I say keep it open and use it to build your credit further by using up to 33% of the limit and promptly paying in full (not minimum). You would not need to do this every month of course but just enough to keep the account active.|||Indeed DTB ration is a key indicator.





%26amp; yes having "substantial" revolving credit lines can be detrimental to your SCORE. Nevertheless 1 account would not count as "substantial", particularly one without a balance. Creditors fear I suppose for those that have numerous accounts is the risk that the individual run into trouble or be overcome a spending spree urge %26amp; one day max out all those lines of revolving credit





Here is a breakdown of Credit Score Rating: http://www.putjahmosthigh.com/CREDIT-SCO鈥?/a>|||Yes it can hurt you because you basically have access to a lot of money that could get you into debt quiclkly. That is why if you are looking to get a mortgage they will be leary because if you get into trouble you may start to max out all of your easily accessable credit.|||Not really. Only if you keep a balance on these cards.