Please check this artical out about credit cards, page 1

Guys I about fell in my office floor on this one.
For years we have been told to pay off credit card balances, not to open to many cards, etc.... Well I guess since the "new" consumer laws on credit cards and such have went into effect the rules have changed..check this out.

finance.yahoo.com...

reply to post by tsloan

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Hi,

Thanks for the post -really informative especially as the card companies never advertise this.

Recently I received a letter from Amex saying that I had exceeded a limit (that I didn't know I had - always thought Amex was open ended) as I hadn't used my card for a year or so and that this 'limit' was calculated on usage (or apparently, in my case, non-usage).

Was a little peaved especially as the letter said I wasn't to use the card.... (so how do I get the limit back up?)

Peace!

reply to post by The Wave

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The easiest way is to pay the balance and then call them and try to cancel your card. These leeches will do almost anything to keep you on their teet!

Zindo

[edit on 3/17/2010 by ZindoDoone]

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