http://insurance-loans-mortgages.com/1230/credit-credit-cards-moderate-limit-card-high-limit/ Money questions and answers! Thu, 24 May 2012 08:33:32 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://insurance-loans-mortgages.com/1230/credit-credit-cards-moderate-limit-card-high-limit/comment-page-1/#comment-1370 Bowt T Wed, 06 Jan 2010 10:27:03 +0000 http://insurance-loans-mortgages.com/?p=1230#comment-1370 I always thought that the total amount of available credit is the critical factor, regardless of the number of cards. And, of course, the ratio of used to unused credit. Nevertheless, I would try to get rid of a couple of cards, but when you close a card make sure you increase the limit with the card(s) that you keep. Close one card every two months or so. Stick with the card with the lowest interest rate, the lowest annual fee and the best perks. The longer you haven't touched that large credit line, the better your score will be when it comes to buying a car. I always thought that the total amount of available credit is the critical factor, regardless of the number of cards. And, of course, the ratio of used to unused credit.
Nevertheless, I would try to get rid of a couple of cards, but when you close a card make sure you increase the limit with the card(s) that you keep. Close one card every two months or so. Stick with the card with the lowest interest rate, the lowest annual fee and the best perks.
The longer you haven’t touched that large credit line, the better your score will be when it comes to buying a car.

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