by Don Rose, Writer for Life Alert
Rule 5. Reduce credit card balances, but don’t get rid of zero-balance cards.
It is good to get your card balances down to zero as fast as possible, but resist the urge to get rid of cards once they have no balance. In addition to being a good backup or safety hedge in case of emergencies, your credit score is helped by having cards with small or zero balances. This is because FICO scores take into account the ratio of your total outstanding credit balance (across all cards) to the total amount of all your cards’ credit limits. The smaller this ratio, the better your score. The more zero-balance cards you have, the lower this ratio will be, which is desirable. Having zero-balance cards also shows you can manage credit, unlike folks who have most or all of their cards maxed out.
How to protect seniors -- older parents, relatives and loved ones -- who live alone. Tips on what to do in case of an emergency. Safety ideas.
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About Me
- Life Alert Emergency Response
- Life Alert is the leading emergency response company, dedicated to solving home safety issues. With a touch of a button, Life Alert sends help fast, 24/7, whether it’s for a medical, fall, fire, or home invasion emergency, even when you can’t reach a phone. Life Alert saves a life from a catastrophic every 10 minutes and has received over 25,000 testimonials from grateful customers since 2008, and was the ONLY company former Surgeon General, Dr. C. Everett Koop, endorsed until his death in 2013. Founded in 1987, Life Alert has become the industry leader in personal protection but also has become a pop culture icon with their classic slogan, “Help! I’ve fallen and I can’t get up!” which was ranked #1 by USA TODAY in its list of the most memorable TV commercials. In 2008, “The Martha Stewart Show” featured Life Alert and recommend them to all of the patients at the Martha Stewart Center for Living while pointing out that Life Alert is "so inexpensive yet so vital for people." Life Alert, their slogan and/or pendant have been featured in many T.V. shows such as 30 Rock, Supernatural, The Goldbergs, and Jay Leno frequently referred to their famous slogan on The Tonight Show.
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