http://www.moneyunder30.com/eight-steps-to-achieve-credit-nirvana Simple, Honest Financial Advice Thu, 09 Feb 2012 22:53:06 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.moneyunder30.com/eight-steps-to-achieve-credit-nirvana/comment-page-1#comment-3262 Credit Card Chaser Wed, 14 Oct 2009 04:17:00 +0000 http://www.moneyunder30.com/?p=3113#comment-3262 Very good tips. #2 is the one that a lot of people get hung up on as they think that less credit means better credit when in fact that is often exactly the opposite. Canceling a credit card will lower one's credit score by decreasing the available credit and negatively effecting the credit utilization ratios. Also, it is worth noting that one has to be careful about deciding to just stop using a credit card because many card issuers will cancel an account without warning if the card has not been used in a long time. Very good tips. #2 is the one that a lot of people get hung up on as they think that less credit means better credit when in fact that is often exactly the opposite. Canceling a credit card will lower one’s credit score by decreasing the available credit and negatively effecting the credit utilization ratios. Also, it is worth noting that one has to be careful about deciding to just stop using a credit card because many card issuers will cancel an account without warning if the card has not been used in a long time.

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