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Reply to "A few questions about credit cards"
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[quote=Anonymous]There is actually a downside to having a credit card with a zero balance on it. Lenders look at your available credit limit, among other factors, so if you have credit cards that allow you to use $1000 of credit (for instance) even if you have used none of it (zero balance) lenders count that $1000 as money you COULD HAVE and count it against you. I was carrying zero balance cards, thinking it would show longevity and ability to keep them clean, and it came back to bite me. I was told by my lender that they were hurting my credit report and to cancel them immediately. I only had two. HTH. [/quote]
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