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Reply #79: DO NOT CANCEL THOSE CARDS! [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
shireen Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-07-09 01:45 PM
Response to Reply #51
79. DO NOT CANCEL THOSE CARDS!
a big chunk of your fico score is based on your debt to credit ratio. If you cancel the cards, your credit score will decrease.

Keep the cards open, even if you end up going with a new CC with better interest rates. Keep your available credit as large as possible, even if you never plan to use it. Do it for the sake of your fico score.
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