sf wrote:

> On 15 Aug 2007 17:57:29 GMT, "Default User" >
> wrote:

> > You have bad or outdated information. Closing credit card accounts
> > HURTS your FICO score.
> >
> Baloney. Closing unused credit cards is not a good short term
> strategy for improving your credit score, but it certainly won't
> hurt.... especially if credit cards are your WaterLoo.

Yes, they will. It worsens your debt to credit ratio, and often
shortens your credit history. Of course, closing an account you got
last year probably won't make much difference.

> especially if credit cards are your WaterLoo.

Everything I've said is predicated on the person having financial
discipline. However, the original message was correct, cut up the
cards, don't close the account.



Brian

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