Quote:
Originally posted by asphaltgambler
Pay down revolving credit; do not close them. Best scenario is all accounts current, open and zero balance.
closing any lines of credit will hurt your score.
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Is this really true? I am in the position now where I can either close a few accounts, or just let them sit idle. I always figured it would be a 'negative' factor to have a bunch of available credit if you go to apply for a new loan -- as your debt/income ratio would then be a 'variable' to the new lender.