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Resolute 14 · 09-18-2004, 08:46 PM

I've never had a problem cancelling cards. It is having too much available credit that can screw you. Even if you have a card with a limit of $10,000 that is completely paid off, it is still counted as $10,000 worth of debt for the purposes of getting a loan, mortgage or line of credit.

09-18-2004, 08:46 PM	#5
Resolute 14 In the Sin Bin Join Date: Jan 2003 Exp:	I've never had a problem cancelling cards. It is having too much available credit that can screw you. Even if you have a card with a limit of $10,000 that is completely paid off, it is still counted as $10,000 worth of debt for the purposes of getting a loan, mortgage or line of credit.