jt wrote:
- quote -

Some of the callers seems straight out of Springer show.

A repeated theme of the Suze Orman show is to not cancel credit cards
you don't need - just cut them up. She claims to be foremost expert on
fico scores and gives a rationale for cancelling hurting your score. I
watch this as kind a freak show not only of the financial side of
popular culture but for freaky regulations and standards such as above.

I might not even cut them up, since they may be surprisingly useful at
random moments in future. With several unused ones recently I found I
could register online or with phone for fantastic benefits, such as
kickbacks more than 1% (up to 10% sometimes w/o catches).

In article <BsGdnTx7ovoLmlLcRVn-1g[at]comcast.com> ,
Frugal Sam <frugalsam[at]hotmail.com> wrote:

- quote -

It can affect your FICO score to have too much available credit
for your income. Using too much credit for your income is a
much bigger issue. If you still keep a number of cards and use
them from time to time, you should not have a significant change
by canceling a group of cards. Make sure you ask the credit
card vendor to mark the account "closed by consumer", so people
reading it know that the credit card was not revoked.

-john-

--
================================================== ====================
John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
================================================== ====================

"Frugal Sam" <frugalsam[at]hotmail.com> wrote in message
news:BsGdnTx7ovoLmlLcRVn-1g[at]comcast.com...
- quote -

Have you looked here yet?

http://www.myfico.com/

Brent D. Gardner, ChFC
Chartered Financial Consultant
http://members.cox.net/brentdgardner1378/
http://www.topgunproducers.com/
http://forum.topgunproducers.com/

Si vis pacem para bellum!

"Be ever questioning. Ignorance is not bliss. It is oblivion. You don't go
to heaven if you die dumb. Become better informed. Learn from other's
mistakes. You could not live long enough to make them all yourself." - Hyman
George Rickover (1900-86), Admiral, US Navy, advocated development of
nuclear subs & ships

The Chartered Life Underwriter (CLU) and Chartered Financial Consultant
(ChFC), designations owned and exclusively offered by The American College,
signify the highest standards of academic study and professional excellence
in the financial services industry.

Hello

I have more credit cards than I need and was wondering what the down side
is to canceling some of them. I pay off the balance due every month and
can't remember the last time I carried an unpaid balance.

Does it improve ones FICO score if you have too many credit cards ?
Does canceling some of them adversely affect ones FICO score ?

Thanks a bunch.

Sam.