said by Gone: said by dragonfly5:
It'll build credit history just staying open.
No it won't. The only way you build credit history is to use credit. Merely having an account that you don't use isn't good enough.
Not entirely true. Credit rating includes length of time any line of credit is open. This account for 15% of ones credit rating. Amounts owed is 30% of your credit. A higher balance means lower credit. Now not using the credit could ding him a bit, because not using it doesn't show payment history.--
If you can't explain it simply, you don't understand it well enough. - Albert Einstein