Question about open credit

iVillage Member
Registered: 03-16-1999
Question about open credit
11
Thu, 11-04-2004 - 5:29pm
I am furiously trying to pull together a plan to save,pay, invest ala Dave Ramsey. In reviewing our credit cards I have discovered that we have about $31000.00 in open credit on various cards. Most are completely paid off and we just haven't closed the accounts. What I can't figure out is whether we are better off (from a credit report standpoint) to have a bunch of open credit that we don't use OR show that we have $X income and only a smaller amount of open credit. Our credit score it pretty good and we are probably going to be able to pay off everything within six months or so (trying to figure all of that out now) so we are not in any real trouble or anything. We are just trying to make the best moves possible so we can get to the part where we can save at least 10% of gross income. Anybody know which is better?

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iVillage Member
Registered: 09-21-2004
Mon, 11-08-2004 - 9:45pm
Ok thanks!

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