Credit Card Rules

Paying on time and staying within your credit limit may not be enough to maintain your interest rate and staying in the good graces of you credit card companies.

At this point in time the aggrement you had can change at anytime for any reason. The economy,marketing conditions and business strategies as reasons a consumers rate might change.

Some lenders can reduce a credit card limits just because there is late payments,decline in credit score,and balances that are to close to the credit limit.

Your borrowing power is restricted by your credit card being lowered. For example if your have $1,000 credit line and you charge $ 400.00 if you creditors decide to lower your credit limits to 500.00 suddenly without spending another dime you have used 80% percent of your available credit.

How much is too many credit cards ?

You know you have too many credit cards when you have a credit card for each department store.It definitely can cause you to have a low credit score.People don't realize that by having too many credit cards can definitely affect your credit score.I know it is easy to get them once you have a high credit score but it becomes lowere credit score easily.

You can not have your credit limits to the max or even half way. For example if you have a credit limit of $1,000 and you are at 50% or $500.00 of credit usage or more then you are harming your credit score. That will increase your debt to ratio amount. If you have it on one or all your credit cards you are on the wrong path to financial freedom.

You need to start looking at you credit limits, interest rates and policies of each credit card to see what you can do . It will take time and require persistance .I personally have those matters taken care of for me. I am a Certified Credit Counselor who knows what it takes to get that straightened out.