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Does anyone know if it is wise to close unused credit card accounts if you are trying to improve your credit score?
My credit card companies keep raising my available credit and now I have more than $40,000 worth! Will that hurt me when I apply for a mortgage in about a year? I've heard that you are seen as a risk if you have too much available credit.
Other than that I have low balances on my cards that I will have paid off in the next few months, I always make payments on time and have a decent credit score. I plan to buy a house in about a year and a half.
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