Suze Orman on The Morning Show with Mike and Juliet (2 of 3)

[SolvencyByTaxation]

Mike's boning his financial advisor...

[markanddana]

i know someone that was dating a girl who had $40,000 worth of debt. Their relationship suffered, he was the one paying her debt and did everything to make her happy. I felt so sorry for him, but glad in the end that they broke up.

[Bacheegs4U]

wow he was a good guy but stupid at the same time

[markanddana]

yea, he was in love with her, she was a total douche.

[donnmon]

These two hosts are the biggest morons on television. "Mike" came from FOX news. Need I say more.

[CuteAlboGuy82]

shes lieing she just wanted to be on TV

[DarkLadyAthena1]

you think?

sure

belive me I dont think 4real2 I am sure, you are right

they are really stupid

that blond puts a bad name on the blond.

it is like hello guys do u have a brain, please cna they put more questions?

but intelligent questinos.

I mean these guys, the buffoon they are so stupid and the clown I mean it is like they had no idea about money or nothing, they can not make intelligent questions, I get not many do, but at least put financial advisers like type suze in more serious show

[AcuteLady]

They never let her say why is it bad to close any credit card =(

Guess we're going to have to find out on our own.

[agenthawkins]

I believe the main reasons were that it can hurt your average credit age and your debt to credit limit ratio on your FICO score...

[agenthawkins]

...For instance, say you had 2 credit cards. One that had been open for 20 years and one that had been open for 1 year. Your average credit age would be 10.5 years. If you close the 20 year card, your age drops down to just the 1 year. And of course, if you were to close the 1 year old card, it could actually work in your favor since your average would now be 20 years (though in that example, I don't think you'd see much of a gain in your score in the difference between 10.5 and 20 years)...

[agenthawkins]

...Debt to credit limit ratio is your total amount owed on credit cards versus your total amount available. So let's say you had 2 cards again, both with a 5,000 limit. You've maxed out one and carrying a 0 balance on the other. So you're using 5,000 out of 10,000 possible. So you're at 50%. If you close one account (without paying anything off), you're now at 5,000 out of 5,000, so 100%.

[iiiiixxxx]

because it brings down your fico score... you need to watch suze orman on cnbc saturday nights at 9pm eastern standard time...

[pamperedgurl]

its erasing your credit history.

if you had a card back in 1997 and closed it down, your credit report is not going to reveal that you had credit since 1997.

you would be a risk to creditors

[XereX1986]

@AcuteLady Because it affects your FICO scores it says it in the video. In other video she explains how FICO score is established or work. Check that video '' Lou on Suze 1-12-08 ''

[bryced875]

that mike guy seemed like he couldn't stand was suze was saying. suze is very smart and they just seemed dumb.