More shenanigans from credit card companies

I mentioned back in February that Experian was dropping access to your true FICO score. Liz Pulliam Weston has a great article on some of the deceptive practices of credit card issuers and why we should demand to have free access to our FICO credit scores, the scores used by most lenders and the ones that have the greatest affect on a person's ability to get a loan. I highly urge you to visit the links on the second page and send a message to your congressperson.

Why is fair credit practices vital for an end to this recession? We all know by now that the lack of credit flowing through the country is a huge problem. However these deceptive practices by credit card companies are hampering people from spending when the country needs it most. For example, a small business owner might not have needed to use credit a few years ago, but does during this recession to purchase new inventory. He has keep his balance low, paid on time, and used his credit responsibly. However, the credit card company sees him as an infrequent user of credit, reduces his credit limits (or closes the account altogether), and now the business owner can't make the purchases he desperately needs to get him through the recession. This is happening all over the country, and until we put a stop to this, the recovery will take longer than it needs to.