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Something I've wondered about this: doesn't opening & closing tons of lines of credit fuck with your credit rating? Or do you just leave them open until/unless
by shantly 7y ago
Something I've wondered about this: doesn't opening & closing tons of lines of credit fuck with your credit rating? Or do you just leave them open until/unless the issuer decides to close the (unused) account, leaving you more crap to have to watch for fraud & such?
- tempsy 7y agoIt does a tiny bit but it's not a huge weight in the credit scoring equation and has very little long term effect. I've maintained a ~750+ score for a long time despite opening 5-6 cards/year on average. I wouldn't do it if I were in the market to buy a new house in the next ~12 months but otherwise a small temporary dip in your credit score has literally zero impact on your life.