Credit card companies are closing accounts and cutting limits - you can try to avoid this by using any credit cards that you've left inactive and if they DO decrease your limit, get on the phone with them immediately. Most of the time they will reverse or partially raise your limits again. What you want to understand is that the available credit is the 2nd most important when it comes to your credit score. This means that if the creditor lowers your limit from $2000 to $1000 and you have a balance of $500, your utilization goes from 25% to 50% immediately and your score will reflect this as well.
How to lower your risk: credit sweep to remove negative items and use inactive credit cards to avoid closure and then lastly, to protect yourself: pay down balances to decrease utilization.
Join the free inquiry removal webinar Wednesday 5/6/20 at 5pm PST. Go to https://onlinenewsletters.net/neu02/ to drop your email to get signed up.
Want to hand over the burden to an expert? Get a free consultation at https://live.vcita.com/site/expertcreditsweeps
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