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Thread: CC chasing and mortgage approval
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Old Jul 1, 2011 | 4:32 pm
  #11  
justinc848
 
Join Date: Feb 2010
Location: Philly
Programs: HHonors Diamond, SPG Platinum
Posts: 197
Originally Posted by jmw2323
cancelling lowers your score. decreasing limits will actually help as it lowers the amount of available borrowed money. Keeps the debt to income ratio lower
Everything quoted here is completely false.

Cancelling cards may lower your score if it increases overall utilization. Decreasing limits may lower your score for the same reason.

Available credit is NOT debt and therefore is NOT included in one's DTI ratio.
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