0% here as well!

 

0% here also

 

Who is "they?" If you mean the credit reporting agencies (Equifax, Transunion, Experian, etc.), you are dead wrong. I suggest you post a reference to prove that too much available credit is a negative factor in credit scoring.

Perhaps you are confused, and thought I was talking about the lender. Each leander will use whatever factors they so choose (credit score obviously being one of those factors), and if you have ever been rejected based upon too much credit available, it was the lenders rule, not your credit score.

 

No, I'm not dead wrong. I worked with credit counseling for over 3 years. I know what I'm talking about. I don't need to post a reference that proves too much available credit is a negative factor in credit scoring. What I would suggest is that you post a reference proving that I'm wrong, because you're the one that appears to be in disagreement.

As far as car dealerships, they will find one way or another to get you into a car, regardless of how good or bad your credit score is.

 

I posted a reference many posts earlier (i.e. I backed my statement up with a reference).

Here's a hint: Google

 

Here's hint #2. There's no reason to get all confrontational just because I disagree with you. You're going to run into people everyday of your life that don't agree with you.

Like I said, I worked in the credit field, and have plenty of experience. I know what I'm talking about. Just because you found a "second opinion" on some Google Search doesn't mean that source is correct, or that I am incorrect. If this reference that you provided was 100% correct, wouldn't people be opening as many credit card accounts as they possibly could? How many credit cards do YOU have, if you don't mind me asking?

The source from Google that you provided is only 50% correct. Another member and myself have already touched base on this, earlier in the thread in regards to the "money vs. credit" ratio, and I agreed with him. However, by having a ton of open credit cards, it doesn't necessarily help your credit score. By having a lot of open cards, it is also regarded as a better chance to get into deeper debt.

 

No ones getting pissy, just don't like to see people to be misled. Everyone can make their own mind up based upone the reference I posted, and your word.

 

That's no problem. My experience has led me to an excellent credit score, and I will continue to use my method. If the other method works for you, great.

 

Anyone can claim to work in any field on this site. So by your logic, if I claim to be Alan Greenspan, would my opinion weigh heavier than yours?

That brings me to my original point on providing a reference to support an opinion. I have provieded mine. Do you have anything to suposrt your opinion?

 

Just read this tidbit. http://money.howstuffworks.com/credit-score2.htm You may have to read on to the next page, or two.

Enjoy.

 

i got 0%, my score was something like 740

 

That's a real decent score. Anything 700 or above is considered an excellent score.

 

Your link just proved my point!

http://money.howstuffworks.com/credit-score4.htm

Since you obiously didn't read the whole article that your refered to I'll quote it for you:

"Advice used to be given to close old and unused credit card accounts in order to reduce your “potential” available credit (which could change your debt ratio after you’ve been approved for a loan). Now, however, the ratio of your debt to your credit limit is more critical, so closing old accounts only raises that ratio – which you don’t want to do. Some people have moved debt from several credit cards to one card and then closed the old accounts. Since creditors look at the debt-to-credit limit ratio this can have a bad affect on your credit score because you have the same amount of debt but less available credit. So don’t close old credit card accounts just because you’re not using them."

 

Don’t open new credit card accounts just to increase your available credit in the hopes of raising your score.

Well then, how do you explain that? What that means is that all the open credit in the world isn't going to improve your credit score. Obviously you didn't read the entire article, so I was kind enough to quote it for you as well.

It seems to me that you're trying to turn this into some personal competition of some sort, but you're still falling well short of proving me wrong. This can be debated til the end of time, and we'll still be right here at square one.

Maybe it's time to agree to disagree, because we're just going round and round in circles. You do things your way to achieve a high credit score, and I'll do things my way. My method is working just great for my credit.

 

Are you talking to more than one person? If you review the previous posts, there's no mention from me about opening new credit cards to increase available credit.

We were discussing when to close a credit account, and if too much available credit will negatively effect your credit score. Coincidentally, while the advice is not to open new accounts to decrease your % utilization (good advice), it does not state that it would negatively effect your credit score.

I'll say it again... it's not personal, it's about misleading information.

If anything my friend, it is you who has tried to make this personal. You asked me about my credit, and go on about how good yours is. Again, using your logic here, If my score was higher than yours, would that make me right? Of course not.