Did you know that credit card companies are now evaluating where you use your credit to help determine your credit risk? This might effect the amount of available credit limit or whether your credit line could be reduced without any notice to you.
Here is an interview on Fox News with John Ulzhiemer, President of Credit.com
Check out the
following video news clip: http://video.aol.com/video-detail/credit-cruncher/2691931135
Slow down big brother! I guess this is another good reason to use your debt card instead of your credit card.
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Comments
2 Comments so far
Mary Miller
“I guess this is another good reason to use your debt card instead of your credit card.”
But be careful–a bank can close your account for non-use of your credit card, and that could negatively impact your credit. http://www.moneyunder30.com/qa-will-my-credit-score-go-down-if-a-credit-card-company-closes-my-account-for-non-use
VG
Greetings:
The rules are made up so the credit card companies and banks can make the most money. Not on a reasonable credit system, that all of us needing the system can openly see and formulate for ourselves.
Banks control credit scores for control of our life’s. Why the credit system does not understand, you shoot your own foot, when you stop people from buying, getting a good paying job, insurance or low interest rates. The very same cards making money from the interest rate, based on a credit score, stops most people with good jobs and paying their bills on time from wanting their business. This is crossing lines that goes into a form of civilized slavery. Pulling strings that tell you what you may or may not have or more importantly be as a person.
Will the controls be put back in place to protect us from this power over our life’s? When the government stopped watching and enforcing regulation for us, the credit system went out of control.
If we had studied the companies records for a tax hand out, by their rules of lending would they of received the money? Would the companies needing our help to stay in business, passed their own qualifying requirements! What if we said, “sorry you have been denied for the bail out money, you do not meet our standards of lending money, get your score higher and re-apply later, but we will not tell you the rules to do that!” Meaning we do not trust you so we will not help you get the loan.
Why can’t their records of lending be monitored by us now, by the people? We the people are wiser then the companies, that make rules for us, we saw helping them would help us.
Can these companies be as wise as the people who gave to them. Helping us advance would make their bottom lines grow in the direction of up, and all of us will move forward?
Or should we the people, the government, take back control, due to these companies showing complete negligent and look after our investment in them?
Sincerely, VG