Comments on: Fed Says Fewer Banks Tighten Credit http://www.creditnet.com/blog/credit-news/fed-says-fewer-banks-tighten-credit A Blog About All Things Credit Tue, 24 Jan 2012 00:27:59 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Joshua Heckathorn http://www.creditnet.com/blog/credit-news/fed-says-fewer-banks-tighten-credit/comment-page-1/#comment-2466 Joshua Heckathorn Wed, 13 May 2009 14:58:48 +0000 http://www.creditnet.com/blog/?p=522#comment-2466 I'm sorry to hear about your situation with Amex Diana. And you're right, closing all those accounts will likely affect your credit score since your credit utilization ratio will increase. You might consider applying for some new credit cards to increase your total available credit again. I know you travel internationally, so a Capital One card could be a nice fit. They are one of the few credit issuers that still don't charge foreign transaction fees. I’m sorry to hear about your situation with Amex Diana. And you’re right, closing all those accounts will likely affect your credit score since your credit utilization ratio will increase.

You might consider applying for some new credit cards to increase your total available credit again. I know you travel internationally, so a Capital One card could be a nice fit. They are one of the few credit issuers that still don’t charge foreign transaction fees.

]]> By: Diana Blackham http://www.creditnet.com/blog/credit-news/fed-says-fewer-banks-tighten-credit/comment-page-1/#comment-2280 Diana Blackham Sat, 09 May 2009 23:10:16 +0000 http://www.creditnet.com/blog/?p=522#comment-2280 American Express just hiked our interest rate 4 points without giving us any reason. We are good payers and have decreased our debt substantially in the last year. I told them that I thought their actions were shameful and closed all four of our accounts (2 business charge accounts, 1 business credit card account, and 1 personal credit card account.) I know that closing accounts can adversely affect our credit score, but I have other credit available with lower interest rates. I chose to use American Express because I liked them. What a stupid reason to do business with a large corporate entity. American Express just hiked our interest rate 4 points without giving us any reason. We are good payers and have decreased our debt substantially in the last year. I told them that I thought their actions were shameful and closed all four of our accounts (2 business charge accounts, 1 business credit card account, and 1 personal credit card account.) I know that closing accounts can adversely affect our credit score, but I have other credit available with lower interest rates. I chose to use American Express because I liked them. What a stupid reason to do business with a large corporate entity.

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