DH & I are shopping for a car and were discussing credit scores with the salesperson. She advised us that auto lenders don't like to see too much available credit and said it's a good idea to close some CCs if you don't need them.
I have about 8 CCs open with about $30k outstandting and around 30% util. If I closed some CCs my util would jump and would adversely affect my FICO score.
I've heard that mortgage lenders look at the amount of available credit, but I've never heard anything about auto lenders taking that into account.
Is she just uninformed or does she have a point?
DH's FICOS: July '08 TU-661 / EQ-593 / EX-656 --> April '09 TU-730 / EQ-705 / EX-685
MY FICOS: July '08 TU-735 / EQ-727 / EX-767 --> April '09 TU-789 / EQ-774 / EX-767