Comments on: DIY Identity Theft Protection in Five Simple Steps

By: mrsmary

mrsmary — Sat, 26 Sep 2009 23:21:11 +0000

Although my credit score is considered very good, I was told when we purchased our last vehicle that my credit score would be better if I canceled old credit cards that were NO LONGER being used. That goes along with #3, but is it accurate info?

By: anonymous

anonymous — Tue, 15 Sep 2009 06:42:04 +0000

It’s not “PIN Number” it’s just “PIN”… seems silly to call it a “Personal Identification Number Number”

By: Matt

Matt — Mon, 14 Sep 2009 23:04:47 +0000

As a followup to my last post, some say that 10% utilization is ideal, but most people tend to say around 30%-35%.

By: Matt

Matt — Mon, 14 Sep 2009 23:03:07 +0000

It’s worth noting that your credit score my suffer if you cancel a credit card. An important score factor is credit utilization, and ideally, you’d like yours to be fairly low (some say lower than 10%). Utilization is the amount of your available credit that you actually spend each month.

If you cancel a credit card, your amount of available credit will diminish, thus increasing your utilization.

By: Gregory

Gregory — Mon, 14 Sep 2009 22:34:36 +0000

I’m not in agreement with number 3. This will harm you FICO score is most every case.

Just keep an eye on your statements. All the big CCCs have $0 liability.