Jon's Response to Our Blog re Credit!
Kraig, Great point in your recent article on cash management. Credit is no longer cash!
The fine print on any line of credit states that the lender can reduce or revoke the line of credit, or possibly require immediate repayment of drawn funds. You don’t find such small print on a twenty-dollar bill! (Or a checking account balance, for that matter.) Jon
Kraig adds: be cautious of the "offset" provisions in your checking or other deposit accounts at banks; those footnotes probably say something about the lender being able to offset any indebtedness using your deposit funds, without your approval or perhaps even notification! Again, Jon and Red are right: Cash ain't cash unless it's cash! PS - it was the "New Tools for 2010 and Cash Ain't Cash" article below to which we're referring here.