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GreenvilleVT

Joined: 08/31/2007 Posts: 11342
Likes: 12088


You get penalized for having large amounts of revolving credit that is


Unused. Cancel cards you don’t use or need and your scores sleekly go up. In essence they are penalizing you because they no you have avaialable credit you could borrow if things hit the fan. They don’t want this available number to be excessive. I don’t know what their definition of excessive is.

(In response to this post by PhotoHokieNC)

Posted: 11/25/2020 at 7:22PM



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Current Thread:
 
  
Credit score aficionados unite: WTF???? -- PhotoHokieNC 11/25/2020 5:54PM
  Would you agree it’s a point of pride? ** -- PhotoHokieNC 11/26/2020 10:27AM
  That's awe inspiring. ** -- PhotoHokieNC 11/26/2020 10:39AM
  That right chair’s I don’t care where you sit. ** -- PhotoHokieNC 11/26/2020 09:40AM
  ...call Mack Mack if your credit is Wack Wack... -- chumley 11/25/2020 8:55PM
  Harrumph. ** -- PhotoHokieNC 11/26/2020 07:58AM
  Right answer. Unfortunately:) ** -- AZHokie59 11/26/2020 11:30AM
  Don't forget your chair ** -- TexasGobbler 11/25/2020 6:29PM
  The Motley Fools have an answer... -- UTPr0sim 11/25/2020 6:06PM

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