Knocked out early

Well, it appears that there isn’t going to be a World Tour ’09, for the simple reason that I can’t afford it.

By careful attention to my Vast Quantities of Plastic, I had nearly $10,000 of available credit and a balance of about $4100, which left plenty of room for a reasonably-short trip.

No more. Awash in Bailout Funds Bank and Trust Company (Member FDIC) decided that I had too much headroom, and cut that line down below $5000. It is highly unlikely that I will be able to bring that balance down far enough to leave me any space for the trip; further, the historical record shows that institutions of this sort are very much inclined to make further cuts as the balance declines, insuring that you never again have much of a margin.

I am disinclined to try to get another card, and the fact that this drives up my utilization ratio substantially makes it unlikely that anyone would give me one at this point. Absent a sudden influx of funding, something I have no reason to expect, I think I’m better off just shelving the whole deal.


  1. Michael Stockwell »

    4 February 2009 · 6:22 pm

    Well that sucks! To coin a tired phrase. However you may learn a lesson from this for the future and rather than relying upon expensive credit use savings instead and pay cash! It’s a shame with gas prices down and other such trip related things being somewhat cheaper as well would have made for a less expensive tour.

  2. CGHill »

    4 February 2009 · 8:25 pm

    It’s about to get worse: a new version of FICO comes out tomorrow, and I expect it to be harsher.

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