Credit rating question

[ragazzo]

I have a Discover card that I never use. If I were to cancel it now, how would it affect my credit ratings? Right now, I mainly use my American Express, which I pay in full every month. I also have a Chase Visa that I rarely use. T.I.A.

 

[MiniDoom]

Originally posted by: ragazzo
I have a Discover card that I never use. If I were to cancel it now, how would it affect my credit ratings? Right now, I mainly use my American Express, which I pay in full every month. I also have a Chase Visa that I rarely use. T.I.A.

I dont think it will change it much, you may lose a couple points, but what do I know.

 

[etalns]

Here you go

 

[ragazzo]

Thanks 🙂

 

[Dulanic]

If you only have thoose 3 cards, keep it open.

 

[StageLeft]

Originally posted by: Dulanic
If you only have thoose 3 cards, keep it open.

 

[Anonemous]

hmmm how about 4 cards? (2 with 0 balance and 2 with balances?)

 

[IHateMyJob2004]

Originally posted by: Skoorb

Originally posted by: Dulanic
If you only have thoose 3 cards, keep it open.

1) when it's time to buiy a home. Credit cards mean absolutely nothing. I never had one and I got my first home loan easily. A good job and no bounced checkes to the utilities are all you need to do.

Simply:
1) Pay the minimum balance or better each month (ideally pa it off monthly)
2) Pay your bills and do not bounce checks.
3) cancel credit cars taht are not needed.