With the high rates of credit card default, the banks are in a panic trying to close down stale credit card accounts that haven't been used in 24 months. That's a double whammy to you: It reduces your available credit and the length of the history of your credit. Both criteria can really hurt your overall credit score.

So the key is to use all your credit cards twice a year. Simply mark a day on your calendar, make a small purchase of $5 or less and then turn around and pay it right off. This keeps your account active and raises your credit score, plus it helps make it less likely that your account will be closed.

In related news, the banks are also redlining by shutting down accounts based on zip code. This practice is illegal -- though no one seems to be stopping it. The banks must justify for your individual situation why they're closing your line or reducing it.

The bottom-line is this: It's important to have more -- rather than less -- lines of credit right now. Have a backup card if your main one gets shut down.