And I know exactly what you mean. I’ve deliberately set my credit card limit to $500 because I really don’t need a whole lot of money on it and because I’m afraid of what will happen if it gets stolen. But my credit card company sends me offers to raise my credit card limit CONSTANTLY. As if it’s a gift.

Also, it would make a lot of sense to have photo ID on one’s credit card, and it’s entirely possible to do this. But that’s just not good for the credit card company, because they don’t care who uses your card, or if it gets stolen, because it’s not like they’re losing money on it.

~Shayla

There is such a thing as good debt, although revolving debt is not it. Sure, slowly paying off multiple credit cards increases your credit rating, but not by much. And you are usually suffering double digit interest while doing so. A much better solution is to pay off one or two secured loans, such as ones taken out on motor vehicles. Expect to pay 2-3 years of good debt in order to get a decent credit rating. Your efforts are paid off when you shop for your first mortgage.