Credit and Credit Scores: A short lesson

[James Boston]

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Is it true that if I have 10 credit cards but I NEVER use them that it won't help my score?

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Somewhat true.

One of the factors in determining your credit score is the ratio of available credit to used credit. Simply put, it would be a concern to a lender if you had $20,000 in available credit, but only had $400 out at a time. You could easily run up the other $19,000+ credit, get in a pinch, and default on the loan you're applying for.