Credit cards are great, simple, and the rewards make the fees worth it. The one rule I live by to keep my self out of debt: Never spend more than I have... Never.

People justify credit cards for the emergency will never even use the card for that reason 90% of the time by the time it is maxed out from the vaction. And going out to eat they look back and say want am i going to do. I was told to open a money market account when i first joined the Military W Bounus put 50 dollars a month in it and as you get promoted and pay increase put half for cost like new tires brakes oil changes. after i pay off a bill like car payment it goes to the account for the next Car I finally after 6 years i could of paid cash for my car and walked away then the dealer wanted to finance me threw some credit union at like 7% went home did online application got pre-approved with 0% for 60 months with 3500 down yes it was Dodge dealerships dodge in general have bad business practice to rip you off and you will say i will never go back agian. like the APR trick Honda 4.9 is about the highest i have seen oowell

Yes, but is YOUR credit score really about YOU? I don't think so. Not anymore. With all of the bank paranoia going on, it seems as if the banks are now trying to blame their regular customers for all of the bank failures that have occurred. People that have always maintained good credit practices are now suddenly finding their credit limits slashed from thousands or even tens of thousands down to just a few hundred dollars or even less, on unused or rarely used credit cards. On cards which are being used, the banks are ratcheting down the limit to just a few dollars over the balance that is still owed. They are are also cancelling credit cards without any rational explanation. These new actions by the banks can have a devastating effect on one's credit score through no fault of the customer. I think this might very well be a great win-win issue for an enterprising legislator to sponsor. Here's the rationale. Although what the banks are doing is not illegal, it will certainly cause them to lose customers in the long run. Don't you want your credit card to be a reliable source of emergency credit that you can count on? Would you like to be checking into a nice hotel for a conference and then be told that your credit card cannot be accepted because it is over the limit, since the bank slashed your credit limit and sent you a letter which you won't receive for three days? These things are happening folks. I think the situation that legislation needs to address is the actual credit report itself. If your credit score is going down because you were late with a payment, you missed a payment, you went over your credit limit, etc, well, that is your fault, and then your credit score is an accurate representation of YOUR credit behavior, as it should be. HOWEVER, if your score is going down because banks are lowering your credit limits, or canceling a high-limit credit card, or even lowering your credit limit to BELOW your current balance, thereby putting you over your limit, is this your fault? Is your credit score now reflecting YOUR behavior? Of course not. It is blaming you for the zany, irrational behavior of these banks. I would propose that the credit reporting agencies NOT reflect these types of BANK actions as if they were YOUR actions. Your credit score should only reflect YOUR credit behavior, be it good or bad. I think a law requiring the credit reporting agencies to only report and include YOUR activities, not the banks' activities which screw-up your score, is what is needed.