3 Ways to Protect a Credit Card You Aren’t Using
Don t let your credit score take a hit just because you re spending less.
First, the good news: We as a country have reduced our credit card debt since the coronavirus pandemic began.
Revolving credit, which includes credit cards, has decreased for the past three months by $24.3 billion in May alone and that debt is now less than $1 trillion for the first time since September 2017, according to the Federal Reserve.
Now, the bad news: If you aren’t using your credit card, the whole out-of-sight, out-of-mind could wind up landing you in financial trouble think lower credit scores due to inactivity and potential fraud.