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High-tech company expands downtown
Folgers coffee perks up Smucker earnings
Region's stocking full of ideas for those on the prowl for holiday gifts
Ohio sues credit-rating companies
Study tracks newspaper, online readership
Michelin chief says revenue won't increase
Most Read Stories
Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Man found dead in North Akron home is identified
Dad accused of forcing son into field, killing him
NFL star Chris Spielman's wife loses cancer battle
Coventry man killed in crash at I-77 ramp
College student mistaken for deer, shot to death
Man allegedly paid teens to spit in his face
Angel Food Ministries helps stretch grocery dollars
Poor machine maintenance blamed for fire at Akron business
Retired firefighter who broke color barrier among those being honored
Blogs:
Pets:
Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Friday Night Notebook
Patrick McManamon:
For your Saturday entertainment …
Akron Zips:
Two blowouts, one night
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Holmgren expresses interest in Browns position
Kent State Sports:
Singletary update
Cleveland Cavaliers:
Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Bowling season starts today
All Da King's Men:
Headed For Disaster
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Federal Judge Declares DOMA Unconstitutional
See Jane Style:
Vintage Chic
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Silverdome Potentially SOLD!
Ohio Travels with Betty:
George is looking for a Thanksgiving buffet in Akron.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Colloquium at University of Akron
Akron Gamer:
Nintendo's Mario endures even as games come and go
Published on Sunday, Oct 12, 2008
Here are some tips to protect your credit limit:
• Keep your balances at less than 30 percent of your limit.
Thirty percent is a conservative ceiling, but it's safe, said Bill Hardekopf with Lowcards.com. The closer your balances are to your limit, the more likely the limit could be reduced because you're a higher risk.
• Improve your credit score.
A drop in your credit score can cause a drop in your credit limit. A FICO score of 720 or above is generally considered a good score.
• If you have a good credit score, a good payment history and a low debt ratio, but the issuer decreases your limit, call and nicely question this.
Tell them you are a good customer, and would like them to restore your credit limit.
• If your limit is lowered and your balance is close to your limit, transfer part of the balance to a credit card with 0 percent APR for 12 months for balance transfers.
Hardekopf also advised not to use this card for purchases because they could be charged at the regular interest rate. Use this introductory rate as a chance to pay off your debt as quickly as possible.
Hardekopf said consumers need to weigh balance transfer fees, which could be 3 percent, to see if it's worthwhile. If you transfer $8,000, that could be a fee of $240 upfront.
Hardekopf said he also expects some0 percent balance-transfer offers to disappear as credit tightens.
• Read through the terms and conditions of your credit card.
Hardekopf said he knows it is very boring reading, but he suggests reading through the document as many as four times a year. Consumers need to know under what circumstances the issuer can change the terms.
— Betty Lin-Fisher
Here are some tips to protect your credit limit:
Get the full article here.
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