Credit Reports and Scores

[p0ink]

Ok, I was just told it was stupid of me to cancel one of my charge cards, because I only have one...and that somehow lowers my credit score.

Now, how in the fuck does having less of a risk for potential debt lower my fucking credit score. Is my friend right, or is he full of shit?

 

[HS Lifter]

He is right.

 

[-SD-]

Your friend is right. If all you have is one line of revolving credit then you want to keep it open and having some sort of balance that you pay off every month in order to show future lenders that you can keep a long line of credit open in good standing, with no late payments.

 

[CASS]

yep your friend is correct, your score will be lower now and you will not look as good to future lenders. as they will be unsure of your credit worthiness.

 

[p0ink]

that is such fucking crap! i thought it would be responsible of me to have less credit cards open, thus a lower risk of having potential debt!

god dammit, i just fucked myself by trying to be responsible! grr!!!

 

[CASS]

that is such fucking crap! i thought it would be responsible of me to have less credit cards open, thus a lower risk of having potential debt!

god dammit, i just fucked myself by trying to be responsible! grr!!!

i know its a fucking crap system.

 

[75th]

Whats goin on p0ink?

 

[HS Lifter]

Have 3 credit cards open for fico.

 

[fogg88]

Poink!! ...there's a guy I haven't seen in forever.

All your credit-related answers lie within .

 

[manny78]

that is such fucking crap! i thought it would be responsible of me to have less credit cards open, thus a lower risk of having potential debt!

god dammit, i just fucked myself by trying to be responsible! grr!!!

It's crap I know and at the end of the day, it doesnt mean a lot cause sometimes, more CC means more debts and late payments. Wassup dude, long time no see.