Economics editor Chris Farrell
Suppose a husband/wife have several credit cards with $0 balance owed and each card is worth 20,000.00+ and unused for a minimum of 5+ years. What's the negative impact to FICA score when the cards are cancelled,one at a time by us. Our FICA scores 780. First name and last inital only. Thanks.
Bank of America just lowered my credit limit from 22,000 to 11,000. Normally this wouldn't bother me, but these are not normal times.
I'm trying to re-finance my home. Will this mess up my FICO score and thereby mess up my ability to re-fi? If so, can I get them to raise it back?
(I pay off my credit card every month. The only time my credit card bill was over $1000 is when I went back to school.)
Thanks! - Sarah
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