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Old 06-28-2007, 06:22 PM
goodsamaritan goodsamaritan is offline
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Join Date: Sep 2006
Posts: 1,465
Default Re: Credit Card Whoring

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I can't remember the correct term...but it's debt to "available credit"

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Revolving utilization. This is one of the most common reasons for a below average credit score. If you use a high percentage of your available aggregate credit limit, your credit will be impacted even if you never go delinquent.

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Let's say I normally have 2 credit cards open and use very little of my available credit on them. Then I whore some for a while and close them when the 0% APR ends, leaving my 2 original card open, still with nearly of their credit available. Shouldn't my credit score be in about the same place it started?
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