Beware of the new Credit Card Problem
Yahoo has a horrible article on credit card companies. Read it HERE.
Basically credit card companies are now lowering credit limits below what you already owe. Say you have a $10,000 limit but you have $5,000 charged on it? A credit card company can drop your limit to $3,000 and you are stuck without room to charge.
Now what the article does not say is if these credit card customers pay their bills on time but I’m not willing to chance it myself.
Add this to the LONG list of reasons to live very frugally and pay off those debts!
