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What really sucks is when you would think that paying off and closing out old credit card accounts would be a good thing, it's not. If you have 10 open accounts with $2000 limit on each account that you are only carrying $1000 balence on half the cards, you are using 25% of the available amount and probably have a good credit rating. Now if you close the 5 accounts that aren't active, you all of a sudden are using 50% of the available limit which is not good in the eyes of a credit reporting agency.
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