Comments on: Asking the Wrong Personal Finance Questions, Repeatedly http://toughmoneylove.com/2010/04/22/asking-wrong-personal-finance-questions-repeatedly/ The Hard Truth about Money and Personal Finance Fri, 24 Feb 2012 15:57:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Lin Velasquez http://toughmoneylove.com/2010/04/22/asking-wrong-personal-finance-questions-repeatedly/comment-page-1/#comment-8645 Lin Velasquez Wed, 13 Oct 2010 02:23:33 +0000 http://toughmoneylove.com/?p=5506#comment-8645 You are so right about the personal finance questions regarding the credit credit score. I feel that consumers should do just the opposite of what the FICO recommendations are. How bizarre is the rule that if one closes an account then the person's score is negatively affected? Too BAD! I settled all my cards and I am proud to be punished for 7 years. I have one card with a limit of $300 and I pay it in full if I use it. I have managed to save $40K over the past two years. I only buy what I can afford. My car is 10 years old. I know we need borrowing power but we should organize a consumer revolt for radical change. Tired of being ripped off! You are so right about the personal finance questions regarding the credit credit score. I feel that consumers should do just the opposite of what the FICO recommendations are. How bizarre is the rule that if one closes an account then the person’s score is negatively affected? Too BAD! I settled all my cards and I am proud to be punished for 7 years. I have one card with a limit of $300 and I pay it in full if I use it. I have managed to save $40K over the past two years. I only buy what I can afford. My car is 10 years old.

I know we need borrowing power but we should organize a consumer revolt for radical change. Tired of being ripped off!

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