A few years ago we decided to consolidate all our loans for lower interest rates, then started paying an extra couple of hundred dollars every month and paid them off sooner. Just for the fun of it I asked my banker to run a credit check for us. It came back with a very good rating because we have always paid our bills, some of them ahead of time. There were a couple of negatives though, that being the fact that we had some extra credit cards. Even though they all had a zero balance the potential debt ceiling existed which could result in additional debt, thus a lower credit rating. Can someone explain to me how raising the National Debt Ceiling is good for our economy?
Posted on: Wed, 16 Oct 2013 18:32:15 +0000
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