Reduce Your Cards

If you pack your wallet full of credit cards, you could be limiting the amount you can borrow for something really important, like a car loan or mortgage. Since all those credit limits are now considered part of your debt load, even if your balances are at zero a lender might decide you’ve already got enough credit. Six credit cards each with a $1,000 limit may hinder your borrowing to the tune of $6,000.

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