I would like to understand how to model to evaluate if credit score is different in Canada from the USA.
I just finished paying some debt on a 0% credit card and I have no more use of this card (and another one). Both the card are my newest. Closing those two card would kill more than half my limit in cc but I don't really care since I use use 100-400 per month on a limit that would be around 5500$.
I have frequently heard people telling that having high limit in credit card is a liability (even if you don't use it) when you come to apply for a loan (mortgage, auto loan, etc.). Is it true that having a limit in cc can reduce your chance of securing a mortgage in Canada?