I need some more advice this morning, if you've got the time to offer your two cents. Mr. A's business checking account came with a $20,000 line of credit. We have only used it a couple of times, to move money over when we hadn't been paid by a customer in a timely manner, and last month when we bought the used Chevy truck for $2000, we drew $1000 out of this account. I've made one minimum payment so far… Read the rest

I've had another credit card account canceled – by the bank. That's two within the last two weeks. This was a Chase account. At least they had the decency to only say they were closing the account since I hadn't used it in a while. I have three other CHASE cards, and two of them have balances. My boss had a little situation the other day. She cosigned for her granddaughter on a student loan and she was denied for… Read the rest

I got this letter from Washington Mutual telling me they've canceled my credit card account because they noticed I haven't used it in awhile. In addition to not using my account recently, they also noted these two things: Proportion of balances to credit limits on bank/national revolving or other revolving accounts is too high Amount owed on revolving accounts is too high I was away from home when I read the letter, so I immediately panicked and began sinking into… Read the rest

I checked my credit scores just over a year ago. I got an email recently that said it was time for my free credit report again. I haven't done that yet, but last week I read about a place, CreditKarma where you can get your estimated credit score free. Here's what it said: Here's my scores last year: I did a little more research and Raymond over at Money Blue Book says CreditKarma uses a different scoring methodology. Raymond's post… Read the rest