Originally Posted by Tirod
its good to have the line of credit.. thus i got the visa gold.. i wont use it unless its an absolute emergency in which i dont see happening.. but having an open 3000 dollar line raises my already over 700 score of 2years on the beurau[sp]
i plan on using my overcharge accounts this summer.... :rick: :thinking: i wonder what for :love:
Correct, the Visa can help. The check cards are cool. but the next time you apply for credit of any kind, an underwriter has to look at all the available credit you have and has to work under the assumption that any day you could take out every dollar available to you. That can really throw off an individuals debt-to-income ratio. I have denied many apps because of it. Also simply having an open card does not give you a better credit score. In fact new credit can initially bring your score down. Having an open card over an extended period of time while never missing a payment does help. This is just a little FYI for everyone here. (if anyone has a question, I would be happy to answer pm's. Credit education is kinda crusade of mine
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