<prompt> Human: I been told that having a lot of credit with a low to no balance is good for my creditcredit rating. I have been told that having a lot of available credit is as bad as having that much debt, when looked at by a loan officer. So which is it?  <response>: I been told that having a lot of credit with a low to no balance is good for my creditcredit rating. This is correct. I have been told that having a lot of available credit is as bad as having that much debt, when looked at by a loan officer. This is not correct. Close the accounts if they charge an annual fee or if you think that you cant handle the available credit and will eventually rack up credit card debt again. 