Millennial Money: Why you should increase credit limits now | Health and Fitness

It’s value conserving bank cards open and commonly charging deliberate purchases to present issuers one much less cause to the touch your account, however that may not be sufficient.

For Timothy Barnes, an auto mechanic based mostly in Rocky Mount, North Carolina, it didn’t matter that he was nonetheless employed in late 2020 with energetic accounts in good standing. A significant issuer closed a number of of his accounts, scrapping over $17,000 in obtainable credit score.

“It was someday of shopping for one thing on-line and the bank card was declined,” Barnes says. “They stated it was a threat, however I didn’t even miss one single cost.”

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