.how will it look on my credit report? I have good established credit. I enjoy two paid autos, a

I have good established credit. I enjoy two paid autos, a motorcycle that I financed paid full,and a few credit cards other paid on time. I've be told I have a good credit ranking for my age(23). On the last vehicle i bought the salesman said it may get me a lower intrest rate if i get my father-in-law to co-sign, even though I have plenty of credit to purchase the vehicle on my own. Is this a step backwards? I tried getting a loan before within the past and they said i had "too much co-credit"even though i have never had any before.So will getting that co-signer actualy breed my credit go down?Also I've heard that it is better to make tracks credit card accounts open when you're done with them fairly than closing them, that creditors like to see available credit. Is this true?

Answer:
A co-signed account by itself does not lower your credit rack up. But, your score does consider how much total debt you have. So, indirectly, your gain could go down slightly with a unsullied car loan, but it would only be short residence, until you've established an on-time payment history. However good your credit is, a co-signer beside a higher credit rating will result in a better interest rate.

Regarding your credit cards, it is true. One estimate of your score is the balance-to-limit ratio. For example, if you owe $8,000 total on credit cards who's limits total $10,000, your usage ratio is 80% (8000/10000). So, if you enjoy $10,000 in credit card limits and $1,000 be a foil for, suddenly your usage ratio is very low (10% in that example). The lower the better. And lastly, your credit chalk up measures how long you've had credit. If you don't use an open credit card, it will eventually leak off your credit (and therefore you score) and you won't receive credit for this positive tradeline. What you want is a credit card you've have the longest. Use is only periodically so that it constantly updates in your credit and does not jump down off the report. For example, a credit card you have friendly from 1990 is better for your score than a credit card you have interested from 2004. This is called credit depth.

Hope this helps.

Regarding the credit cards, the previous answer is correct. Don't go against them or close them.

But I'm real confused about your situation and your query. did you have other loans that were co-signed? How abundant and are they still open?

Your discription of your finances implies that you should own super-good credit and I don't understand how having a co-signer will raise your interest.

But getting this car with a co-signer will not hurt your win. It could have an effect on your co-signer because it will increase his credit liabilities.

Just for fun, check out another source for a saloon loan and see what they say. You sound resembling you have your finances under control.