Quote:
Originally Posted by SteelTown
FYI……should keep your visa cards even if you don't have anything on it. Just cut up the card instead and forget about it instead of cancelling it.
By doing that it'll help your credit report, more credit cards you own with a good record will help your standings.
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Don't want to drag this off topic even more, but is that correct?
I've been told in the past that having a pile of credit cards that aren't being used will hurt your chances of getting loans in the future. They have to take those credit limits into account when determining how large of a credit line to extend to you. If you have 6 credit cards for example with zero balance but each with a $2000 limit they have to assume that because the credit is available to you, you could potentialy use it.
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