Straight Story
Credit isn't always a bad thing, especially if you're careful and focus on saving when times are good. Economics editor Chris Farrell discusses the pros and cons of credit.
Economics editor Chris Farrell (American Public Media)
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From MO, 04/20/2009
Suppose a husband/wife have several credit cards with $0 balance owed and each card is worth 20,000.00+ and unused for a minimum of 5+ years. What's the negative impact to FICA score when the cards are cancelled,one at a time by us. Our FICA scores 780. First name and last inital only. Thanks.
From WA, 04/20/2009
Bank of America just lowered my credit limit from 22,000 to 11,000. Normally this wouldn't bother me, but these are not normal times.
I'm trying to re-finance my home. Will this mess up my FICO score and thereby mess up my ability to re-fi? If so, can I get them to raise it back?
(I pay off my credit card every month. The only time my credit card bill was over $1000 is when I went back to school.)
Thanks! - Sarah
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