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yes they calculate the total amount available. Now sometimes too much credit can hurt. Not sure what the exact limits would be. If you have 50000 in available credit and you cancel the cards that brings your limit down to 25000, you score would drop very little. It is more debt to available credit that goes into your score. Think it is 30 or 35% of your score.
My credit isn't that great, so I don't have that many. I have 4 total. Two are retail cards, and two are Mastercards with terribly low limits. I'm hoping to improve these, but I'm not quite sure how. I found this blog detailing how someone with a worse score that mine is trying to raise it, but I'm not sure if the same strategies will work for me.
