Credit card companies are jacking up interest rates, lowering credit limits, and closing accounts - and people who have made timely payments are not exempt. So even if you pay off your balance - and that's tough when interest rates are insanely high - there's a good chance your credit limit will be slashed, and that will hurt your FICO score.
Suze OrmanEvery time you overhear something hurtful, I want you to do something kind for someone else.
Suze OrmanThose carrying a credit card balance should scale back to making the minimum payment each month so they have more money to put into savings.
Suze Orman