I've been reading posts people have put on complaints.com about 2 banks I have credit cards with. The research came after watching an episode of the Suze Orman show where she was talking about how banks are closing credit cards as soon as someone's balance is paid in full. One bank had complaints about this practice as current as of last week. Another trend I noticed is that some banks are even lowering credit cards limits so that a customer ends up being charged for an over the limit fee. I haven't had that happen to me yet (knock on wood), but I'm very worried about that happening.
Even if they are evil, credit is needed in our society. While I want to pay off my cards I do not want the lines to close. They can be useful is there's an emergency, plus a good credit history can go a long way. So now I have to think is it better to pay them all over or to keep a minimum but manageable balance on the cards so that they can stay open.
This doesn't mean I'm going to stop paying down, though. I just need to figure out another way to do this so that won't hurt my credit score.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment