What role does your credit score play in your active accounts? Credit Karma has a chart on their website that is a basic way to see how your credit card limits and credit score interact.
The relation between your credit card limits and credit score is actually more interdependent. Your credit score utilization is found by [...]
Category: Credit Score, UtilizationTags: credit card limits | Comments (5)
Do you have thousands in used credit? Do think that this a potential hazard because of either identity theft or creditors think you will use it? What will happen if you lower your limits.
Chances are if you have a good credit score your utilization is pretty low. Those with excellent credit score are usually around [...]
Category: Credit Score, UtilizationTags: credit utlization, good credit score, lowering limits, Utilization | Comments (0)
In a previous post about what is an excellent credit score, we discussed what level of credit scores are considered the best. If you were at of above 750 you were there. So how do you get there? It is not an easy journey and it could take sometime.
The first question is do you pay [...]
Category: Credit Mix, Credit Score, Featured, Late Payments, UtilizationTags: excellent credit score | Comments (4)
If you are thinking about closing an account that you have, wait! There are things you need to consider before doing it. For example, what effects will it have on my credit score? It might have the effect you are looking for.
Category: Credit History, UtilizationTags: Closing accounts | Comments (0)
The second largest part of your credit score is how much you owe. It is defined as utilization and equates to 30% of your credit score. The reason for such a large weight in your credit score is because lenders find that people that owe or more specifically close to their limit are a increased [...]
Category: UtilizationTags: Utilization | Comments (3)
