NPR on Credit Scores

[RacersEdge]

There was an interesting thing on how credit scores work on NPR this past weekend - kind of interesting stuff.

For one they said that if you have a credit card with a huge limit, it could actually hurt your score becasue the lender might not like the idea of the person being able to run up some big debt right after the get the car loan (or whatever they are applying for.)

Another one was that if you have a good history with a credit card as far as making payments go, all that "good" gets wiped out if you decide to cancel that card.

Not sure the title of the program, but probably on their site somewhere.

[DrunkIrish05]

[ QUOTE ]
For one they said that if you have a credit card with a huge limit, it could actually hurt your score becasue the lender might not like the idea of the person being able to run up some big debt right after the get the car loan (or whatever they are applying for.)

[/ QUOTE ]

Along the same lines, if you have a ton of little store specific (ie express or such) cards then this also gives you a larger possible overall credit base and can cause your rating to go down. So basically, don't sign up for the damn things.