new scam

[ezdays]

You won't take a hit on your FICO for very long by canceling your cards. When I canceled several of mine my score went from 765 to 742. Within 6 months it was back to where it was and now 3 years later it is even higher. The main reason I keep the one card though is with my mortgage and car paid for it is the only regular payment I make (which I pay in full each month) and if you have no payments of that type your FICO will take a hit as no credit is worse that bad credit. The whole thing is a scam anyway as canceling your cards and lowering your debt should increase your FICO not lower it.

I have a few monthly charges, and yes, like you, pay my cards off every month. I do have some cards that I haven't used in years, one even lowered my limit because I wasn't using it much. How do they think lowering your limit is going to make you want to use it more? You're right, this whole credit thing is a scam the way it works, but it's what we are stuck with. Just like, if someone has your bank account number, they can drain you account, yet every check you  write has it imprinted at the bottom for all to see, but the bank is not responsible.

How do you protect yourself, just not send money to a stranger that calls you, or as Jim pointed out, don't expect money back by giving your credit card number to just anyone that calls. Ask yourself, if they know there was a charge on a card, they should already know that card number. Ask them to give you the number. Why do we have to be so cautious to protect ourselves from scammers? Technology has changed the world, and not always for the good.