I have blogged before about how much I love Inc.

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Now that banks want to cut back on lending, they’re lowering credit lines for even their most reliable cardholders – and they’re closing unused accounts.

While that might seem OK to you – because you don’t want to use the card and go farther into debt – it really isn’t OK. Your credit score is compiled from many factors, and one of them is the amount of unused credit you have available to you.

Thus, when a credit card account is cancelled, your available credit goes down – and so does your credit score.

The best thing to do – take that card out and use it now and then. And when the statement arrives, pay it in full. That will keep the card active without costing you any money in interest payments. So use it Read full article…