2007-07-21 11:39:51 · 4 answers · asked by dmcghee15 2 in Business & Finance ➔ Credit
Pengy is on the money. Partial of your credit score depends on your dept to credit ratio. Not to mention, if these cards are the oldest (in time) you have, it will reduce your open credit length of history.
If you no longer need those cards, get some scissors and slice away. :)
2007-07-21 11:48:59 · answer #1 · answered by Fahad S 3 · 0⤊ 0⤋
If you have any debt at all , your debt to available credit ratio will go up ( your available credit decreases when you close accounts)
So it looks like you are less able to manage debt .
It will be negative on your FICO if you have debt ,
But if you have None , then the ratio won't change .
( of course the next debt you incur will have the same ratio problem )
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2007-07-21 18:47:34 · answer #2 · answered by kate 7 · 0⤊ 0⤋
Yes it decreases your available credit to debt ratio a major factor in your Fico scoring
2007-07-21 18:43:08 · answer #3 · answered by Pengy 7 · 1⤊ 1⤋
No, and it positively affects your sleep.
2007-07-21 18:43:30 · answer #4 · answered by Anonymous · 0⤊ 2⤋