In a message dated 1/17/2003 11:17:43 PM Pacific Standard Time,
vpFREE@yahoogroups.com writes:
Date: Fri, 17 Jan 2003 15:13:40 -0800
From: adr <adr@basicallycredit.com>
Subject: Re: Re: Carrying Money to a casino>While these can be explained to any
>potential lender, any initial evaluation of credit worthiness will
>factor the available lines as additional room to hang yourself and
>will adversely affect your credit score accordingly.Actually, you "debt to equity ratio" is what comes into play here.
Potential lenders look at your total available credit line, including all
credit cards versus your actual debt. The higher the ratio, the better the
credit score.That is why when you payoff a credit card, don't close it. It shows as
available credit without a balance.
As you get older you have less need for credit & inactive accounts should be
closed. Some institutions send out monthly statements that are usually
ignored because you know there is no activity. However, there may be some
unknown activity but habit tosses that statement into the "later" file.
This happened to me recently. Fortunately, I was able to catch it in time for
the institution to make amends.
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At 02:33 PM 1/17/03, you wrote: