Quote:
Originally Posted by masraum
Yeah, at one time we have several cards (I think 11 at the peak of our debt). Each of us had at least 1 with a very high limit (to me, probably in the $20-40k range) and the rest were fairly high (7500-15k). We got rid of all but 1 each. We've also requested the limit on the highest one to be lowered by 40%.
Unless you need that much credit, I'd close a card or two.
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We did about 30K of home upgrades in 2007 and our credit cards were cheaper than the best home equity lines when you have offers of 3.99 fixed and 0%.
I know having too much access to money via CC can be a red flag, but so can closing accounts.
Be nice to see a de facto list regarding FICO. Who the hell knows for sure what is worse, worser, and worsest!