Get Good Credit

It’s often be said that it’s good to cut up credit cards and cancel accounts, however, if you have a certain sizeable debt to availabe credit deficiency you most certainly don’t want to go around cutting off additional credit lines – just leave them open as long as they aren’t sucking annual fees out of your hide (in that case, you may have to use you best judgment).  So while, it’s fine to cut up the credit card, consider what your ratio will look like if you cancel the account as well.  In other words, take the total amount of available (MAX LIMIT) credit that you have access to and divide that by the amount you have on the cards/loans… and then figure out the ratio… IF the account that you are considering to eliminate is too large it may in fact adversely affect your credit rating.  As always do more research on your own for issues as important as this one.