In article >,
"Default User" > wrote:

> Omelet wrote:
>
> > In article >,
> > The Cook > wrote:
> >
> > > Closing the credit cards is not a good idea. Keep them but do no
> > > use them. About 35% of your FICO score is determined by the amount
> > > of credit extended to you compared to how much is used. Keep them
> > > and use them only to the extent you can repay at the end of the
> > > month. Emergencies excluded.
>
> > I was told by Bank Of America that if I kept several credit cards, my
> > credit score was WORSE!
>
> Then they lied to you. Two major components of your FICO score are debt
> to credit ratio and length of credit. Closing hurts both of those.
>
> <http://www.myfico.com/>
>
>
>
>
> Brian

Sorry, but I think I'll listen to a loan officer before I'll believe an
internet website.
--
Peace, Om

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"My mother never saw the irony in calling me a Son of a bitch" -- Jack Nicholson