Available credit-good or bad

wiggler

I have just found out a card i had with mint is still active. I have not used this card for years. Now i need to do a 0 per cent balance transfer soon and realise that this increases my available credit significantly. How does this effect my chances? One school of thought is that i have unused credit so dont go mad and spend everything the other school says if i was to go bad so to speak then i have more money to do so with. I have heard convincing arguments for both sides does anyone really know?

lisyloo

No no-one can reliably tell you whether it will be treated as a posistive or negative by the inidvidual lender apart from the people who work in the credit rating department and they won't give you this commercially sensitive information.

If you gave information about your income, current debt, current available credit, number of late payments, defaults etc. then people might be able to give you informed guesses, but we'd need a lot more detail.
Couldn't answer the question as it stands without any numbers.