"I have always advocated doing everything possible to pay off credit card balances; it's good financial management and the ticket to a strong FICO credit score."

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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.

— Suze Orman