You’d think having good credit and being careful with your spending would make your creditors like you. But your credit card company might not. According to a Feb 12th Smartmoney.com article, creditors have been reviewing the accounts of their most credit-worthy customers–and if their balances aren’t high enough they are slashing credit limits or closing the accounts. Discover reported that in 2008 it closed three million accounts due to insufficient activity. Many times the only way for even long-time customers in good standing can keep their accounts is to spend more. And it’s ironically the account holders with the highest credit scores that get targetted the most for this treatment! Continue reading ‘Can You Be Punished for Having Good Credit? Yes!’
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