November 28, 2008
You’re Never Too Young To Know What Affects Your Credit.
As a relatively young person trying to figure out how the credit crunch and subsequent tighter lending standards is going to affect me, there are a ton of questions about credit cards I need to ask and have answered.
To begin with. Is is smart for me to apply for as many cards as I can to see which ones accept me? The answer, probably not.
Applying for too much credit at the same time damages your overall credit worthiness.
And secondly, what amount of credit limits should I accept? The answer here is lower is better.
A better debt to available credit ratio looks better in the eyes of the credit gods.