Wednesday, May 11, 2016

My mortgage loan officer told me to close 2 of my credit cards? - 1


He told me in order to qualify for the amount I am requesting I would need to close 2 of my cards that have a 0 balance but have a combined $9,000 limit.

I know closing accounts can hurt your score because you are then increasing your debt utilization and also lowering the age of your average open accounts.

Should I do this or would it hurt more than help?

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