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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Some house cleaning questions Date:  1/2/2013  6:35 PM
Author:  Gingko100 Number:  306617 of 312185

Don't make the mistake I did! Keep them ALL open.

Just before I went to get a mortgage, I closed all of my cards except one (closed 3). Same logic - "look how responsible I am, without tons of credit cards!" What I didn't know then, that I do now, is that this makes you look terrible to a potential lender and drags your score down.

So - yeah,close these AFTER you have the mortgage and have closed on the house. Not before.
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