Comments on: How Credit Scores Work – Credit Utilization

By: How To Avoid Teenage Credit Mistakes With Your Kids | RateNerd

How To Avoid Teenage Credit Mistakes With Your Kids | RateNerd — Wed, 24 Jun 2009 12:49:14 +0000

[...] author of The Credit Road Map. A significant 30 percent of the FICO score is represented by the credit utilization rate – the ratio of debt (balances owed) to total available credit (credit limits). The lower the [...]

By: 10 Things You May Not Know About Your Credit Card | RateNerd

10 Things You May Not Know About Your Credit Card | RateNerd — Tue, 16 Jun 2009 09:55:27 +0000

[...] increase your credit score, too. “30% of your credit score comes from what is called the ‘utilization ratio,’” says Clark, which is “calculated by dividing your total outstanding balances [...]

By: How to Get the Lowest Credit Card Rates | RateNerd

How to Get the Lowest Credit Card Rates | RateNerd — Fri, 12 Jun 2009 09:37:04 +0000

[...] As credit card terms change, so do the rules of shopping spree spending, says Gail Hillebrand, senior Attorney for Consumers Union, the Yonkers, NY-based nonprofit that publishes Consumer Reports Magazine. Even those who spend wisely and pay on time could wind up with tighter card restrictions simply by spending a larger percentage of their credit limit. [...]

By: Ouch! How To Hurt Your Own Credit Score | RateNerd

Ouch! How To Hurt Your Own Credit Score | RateNerd — Mon, 01 Jun 2009 14:00:39 +0000

[...] that might offset any resultant blip in your credit score. The trick is to keep an eye on your credit utilization ratio for that particular line of credit. [...]

By: 10 Ways to Beat a Credit Hangover | RateNerd

10 Ways to Beat a Credit Hangover | RateNerd — Tue, 19 May 2009 13:28:20 +0000

[...] One of the largest components of the credit score calculation is the balance-to-limit ratio (or credit utilization ratio), he explains, which basically measures how “maxed-out” you are. If you close a [...]

By: 8 Ways to Boost Your Credit Score | RateNerd

8 Ways to Boost Your Credit Score | RateNerd — Tue, 12 May 2009 09:54:00 +0000

[...] it means sacrificing a few daily luxuries until the credit’s in check. Figure out what your credit utilization ratio is, and make adjustments if you [...]

By: How to Get the Best Credit Card Rates | RateNerd

How to Get the Best Credit Card Rates | RateNerd — Thu, 07 May 2009 10:27:52 +0000

[...] adds that the debt utilization ratio – the amount of debt a consumer carries versus the amount they’re allowed to borrow – is one [...]