$30 GC to Blockbuster for applying for GM credit card

**flergum** · 12-04-2002, 07:58 AM

**ribitch** · 12-04-2002, 08:34 AM

**Cubsfan** · 12-04-2002, 08:45 AM

Just perhaps a word of caution. If you're going to just cut up the card, make sure to cancel it before you cut it up. I may be mistaken, but I think that having a log of lines of credit (i.e. credit cards) open hurts your credit rating.

Actually, I think that even inquiries into your credit report might hurt the score. Anyone know if that's correct?

**westernboy** · 12-04-2002, 08:55 AM

It is true. Whenever you apply one, you are logged in the credit beauraus???....

**vnnydapooh** · 12-04-2002, 12:24 PM

Yes, it's true that open accounts that are inactive hurt you. However, the one concering inquiries into your credit report does NOT hurt you. But your credit report will show a list of all the inquiries that CC companys and any other companies that check credit rating and when they checked it. Usually, CC companys are only concerned about dilinquencies and open inactive accounts. All they really want to know is how reliable you are in paying them back when you borrow money from them. I work at a credit counseling agency, so that's why i know. I deal with clinets who are are NOT reliable and have a hard time paying CC companies back. =)