Posted:
#51
Quote Originally Posted by HutchEmAll:
I've opened up about 5 credit cards in the last year (I know it doesn't do wonders for your credit rating, but I could stand a little hit).
Just the opposite.
This helps your credit rating. The rating looks at how much you owe vs the sum of all your credit limits, so the more credit you have without owing more, the better for your score.
If you have a guy that owes 9K and his credit limit is 10K, that is not good.
But if you owe 10K and your total credit limit is 500K, then that is considered good credit.
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