Everybody in America started to define themselves by all these things they had around them. And all of a sudden it came tumbling down. So the old American dream has died, and that is a good thing.
A cash advance on a credit card is one of the worst types of borrowing because the interest rate is typically 21 percent or more.
If you are worried about job security and do not have an adequate emergency fund (ideally eight months' worth of living expenses stashed away in a federally insured bank or credit union), you need to focus more on saving money than paying down the balance on your credit cards.
Credit card companies are jacking up interest rates, lowering credit limits, and closing accounts - and people who have made timely payments are not exempt. So even if you pay off your balance - and that's tough when interest rates are insanely high - there's a good chance your credit limit will be slashed, and that will hurt your FICO score.
Dee Dee Myers