Clarification/Follow-up by rickj on 09/20/05 11:41 pm:
Here's the real scoop:

No one can show you or me the "formula" for determining credit score.

Experts give advice that often conflicts: Some say lots of available credit is good, some say bad.

Some say that if you have available credit that is X times your income you should close some of them...but others say closing accounts causes a decline.

I look at credit reports and credit scores every single day - and have done so for 30 years.

I can say that some that I think are better than others have lower scores.

...so just be sure that you continue to have everyone reporting that you are never late - and if you've already got a few credit cards, don't get more.

That's the most any of us can do.

Clarification/Follow-up by SportsDoc on 09/21/05 7:18 am:
So lets say that the additional credit cards for some reason DO lower my credit.... can i then challenge that u are supposed to be able to, since there is no written rule that getting more cards and using them responsibly should lower anyone's score?

Clarification/Follow-up by SportsDoc on 09/21/05 8:24 am:
So basically u r saying that someone with 2 good standing credit cards can have worse credit than someone with 7 good standing cards, and vice versa depending on luck? So how can you make sure you have good credit besides not being late on any payments ever?

Clarification/Follow-up by SportsDoc on 09/21/05 10:02 pm:
Actually i dont plan on oweing on any of them but one... so that should be fine? its just that someone told me that even having zero balance unused credit cards can ruin you.... has anyone here cancelled credit cards without a fuss from the bank?

Clarification/Follow-up by SportsDoc on 09/22/05 8:06 pm:
So in all honesty, is it a widely known and agreed upon fact that we are all at the mercy of some illogical system that determines all of our credit ratings? Because from what I have seen, it all seems pretty accurate in that people who have abused credit have scores like 480, and people who had dont nothing bad in their lives had scores of like 710, etc... ie, i havent heard much complaints of any of the people i know saying that they didnt do anything wrong but the credit bureaus jerked them off into bad ratings... there has to be SOME kind of foundation in which they operate... no?