FAQ: It is good to close as many credit cards as possible before applying for a mortgage?
Keeping older credit cards open with no balance will more likely have a positive than negative impact on a credit score. Older credit cards add to your average length of credit history. Open lines of credit also increase your total credit limit and thus decrease the debt to limit ratio. Having a low debt to credit ratio helps boost scores. On the other hand, opening a lot of new credit cards in a short period of time can have a negative impact.
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