04-28-2009 12:54 PM - edited 04-28-2009 01:02 PM
04-28-2009 01:25 PM
I understand that the amount of credit available can hurt your FICO score so would it be better to decrease your credit card balance or the number of credit card you hold, based on the # years you've had the card? I know that the longer you've had the card the better.Message Edited by felberfam on 04-28-2009 01:02 PM
Having a lot of available credit will most certainly NOT damage your score. That sounds like a FAKO reason for a score. Forget you ever heard that.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO