Debt Free Map

You’re afraid of loosing your job, or just losing some of your income. Wouldn’t it be nice if you didn’t have those awful credit card bills eating into your income? Credit card elimination will truly change your life.

There are rumors being circulated by the media that credit card companies are in the process of cutting there customers credit limits. This might be good for the credit card companies is a time when bankruptcies are becoming the rule instead of just the exception, but not for consumers that value their credit scores. The reason is that a large portion of credit scores are calculated on debt to available credit limit ratios. If your debt is only about ¼ of your total credit limit then slashing your limit will make that one forth about ½ of you limit. Imagine if your debt to credit limit is higher like ½. Slashing that would leave your credit cards maxed out, which is really bad for your credit score.

If this is happening to you than the best thing to do is credit card elimination. Over time you can get a better credit limit again, if you get rid of your balance as soon as possible.

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