Just one quick nit to pick with the author: "holding" too many cards would not "hurt" your credit score.
"Opening" them would drop your score, as new inquries and a reduced average age of your credit would be negatives in current FICO formulae. But once they are opened, the damage is done.
Just one quick nit to pick with the author: "holding" too many cards would not "hurt" your credit score.
"Opening" them would drop your score, as new inquries and a reduced average age of your credit would be negatives in current FICO formulae. But once they are opened, the damage is done.
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