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Question for the Money Doctors

Question submitted on Feb 15, 2011.

Question

I have only 2 credit cards with balances of $300 and $400 respectively. The credit lines are $800 and $650, respectively. I would like to pay them off and keep them open in case of an emergency. How could not using the credit card affect my line of credit?

Answer

<span style="line-height: 115% font-family: "Arial","sans-serif"; font-size: 9.5pt;">The best way to know the answer is to ask your credit card issuer, although my guess is that they do have the discretion to decrease the amount of credit available on (or perhaps close) an inactive account.


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