Inactive credit cards affect your credit rating

To get good mortgage financing you have to have good credit.

The first way to have good credit is to make sure you always pay your bills on time, at least the minimum payments (such as on your credit card).

Another point that is important for having a good credit rating is to close any inactive credit card accounts.

You would think that because it is inactive it should not make a difference. As long as you don't owe money on it you should be ok. Right? It is logical, but it is wrong. Inactive credit cards affect your credit rating.

Make sure you cancel any inactive accounts. It will improve your credit rating. Even more importantly, it will likely be one of the points that will get you better rates on the loan.