Can combining credit cards (NOT Debt Consolidation) hurt your credit score?
Day Dreamer asked:
I have several credit cards, many from the same institution. I’d like to combine all the ones from the same institution into one.
I have several credit cards, many from the same institution. I’d like to combine all the ones from the same institution into one.
All the cards are paid off monthly - I am not carrying any debt.
Will this hurt my score?
Will this hurt me in any other way?
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@ June 23, 2008
From what you have said, this should have no affect on your score since you are not carrying a balance.
Closing them will pull your score down a few points. Less Available unused credit.
Kourtnie
Prosperity Financial