News for hackers. Stuff that matters.

A comment on If you didn't cancel the credit card you used for linode.com, now is the time. Parent comment

Re:If you didn't cancel the credit card you used for linode.... by waterlesscloud on Thursday June 06, 2013 @04:04PM (#5834840)
It is, however, an element of your credit score.
[ Parent | on HN ]
Re:If you didn't cancel the credit card you used for linode.... by caw on Thursday June 06, 2013 @05:05PM (#5835167)
In that your credit score has a factor of actual debt to total credit. Someone with $1000 of debt on $100,000 in credit is much better off than someone with $1000 of debt on $5,000 of credit.

So things like car loans and mortgages could be bad, since they start at 100% and go down.

[ Parent | on HN ]
Re:If you didn't cancel the credit card you used for linode.... by mkopinsky on Thursday June 06, 2013 @04:41PM (#5835031)
Credit utilization is another element though. It's bad if you have too big a line of credit, but good if you have a historically low ratio of (debt/available credit).
[ Parent | on HN ]