Los Angeles, CA (Vocus) October 4, 2010

It’s a vicious circle of debt and credit that many consumers don’t understand. Consumers are now being informed by the National Foundation of Credit Counseling that even credit cards they don’t use can lead to credit concerns.

Consumers across America are becoming more aware of the importance of their credit scores. If your goal is to maintain a good credit score than it is essential that any cards you have are used. The balance can be very low, but it is highly important that credit cards have a balance.

A bank may automatically close an account with a zero balance.

“A zero balance won’t actually hurt your fico score but closing an old account could,” says Craig Watts a spokesperson for Fair Isaac (FICO). According to Gail Cunningham, the vice president of public relations for the Nation Foundation for Credit Counseling, “In recent months lenders have been eager to charge consumers for unused credit card accounts.”

For many consumers across America their credit cards become their lifeline in difficult times. New York resident Constance Whitfield was juggling more than ,000 on 5 different credit cards. “I was being irresponsible using credit cards. So I decided to get help.” Constance sought help from the Rosen & Winig Law Firm, they work with consumers to resolve high levels of debt.

Constance cleared her debt in one year using this attorney based on a non-formal debt resolution program. Rosen & Winig use the innovative technology provided by Morgan Drexen’s integrated legal software systems. Constance admits that fearing a backlash of charges, “I got rid of every credit card I had.”

For North Carolina resident Myrtle Chapman credit card debt was consuming her life. Myrtle had 6 credit cards and her debt amounted to over ,000. She admits that it was not luxuries that she was buying but everyday items. “Food from Wal-Mart, gas and just everyday items. It’s so easy to get hung up in a world that charges a 29% interest rate if your payments are late.”

So the message is clear while credit is important, overextending on your credit can be expensive.

Media Contact

Raychel Harvey-Jones

Office- 714 9231500

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