Re: Credit Card Whoring
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wouldnt credit card whoring have a negative affect on your credit score because you are constantly opening new lines of credit?
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Briefly, yes. Especially if you make the mistake of canceling the cards after the 0% rate runs out.
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Why would that be bad?
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I can't remember the correct term...but it's debt to "available credit"
Like if you owe $100 and you can borrow up to $500...that's better than owing $50 and only being able to borrow up to $100.
(basically closing cards means less credit available...but also, having TOO many credit lines available is a bad thing too (especially in a short time period opening too many is bad, cause it looks like you're preparing to go on a spending spree)
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