Quote:
Originally Posted by ss20ts
Why is having less credit available viewed as a bad thing? That just doesn't make sense.
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Depends what you want to do. All it does is indicate how well you use credit. A 2 point drop may do nothing. With a 10 point drop maybe becomes more difficult to get a replacement card. Maybe you don't qualify for top rate at car dealership.
For Dave Ramsey followers it makes no sense at all. A credit score has no value in how you manage your money. Paying 24% on credit cards is stupid. Paying 6% on a car that depreciates is bad.
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