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>>I was just wondering, how do creditors who give big loans (ie mortgages) look at credit reports of
people who have say 12 credit cards opened and say 9 closed in the last 3 years. <<

It should not matter at all for a home mortgage. I was wondering the same thing when I started looking for a home. I had multiple major CC's and a handful of minor ones plus a substantial line of credit. These were all open accounts ( I also had a bunch of accounts that I closed). The total credit available to me at the time was more than 2 1/2 times my income!
I was carrying no balances and my credit rating is top notch, but I was worried that having so much available credit would be a negative when trying to get a mortgage.

I checked with a VP in the mortgage dept. of a major bank and verified her answer with another source. The answer was, the lender does not care how much credit one has available or how many active cards. As long as you have a good credit rating and a downpayment, they will take the business. Remember, you are backing up the mortgage with your property.

Hope this helps. Oh ya, I closed 6/97. AJE
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