Credit card balances in the U.S. now total roughly $1 trillion, the most since 2009, according to recent Federal Reserve data. While not all those balances represent debt that won’t be paid off each month, many consumers do struggle with credit card debt. One clear signal that a consumer might be in trouble with credit […]
The Most Maxed-Out Places in America Read More »
Having your credit score fall unexpectedly can be as bad as losing a significant amount of money. With a lower score, your opportunities for low-interest loans, lower insurance premiums, and more affordable mortgages may be out of your reach. What’s worse is that these fluctuations may come from out of nowhere and may confuse
What to Do If Your Credit Score Drops Unexpectedly Read More »
Q: “I have good credit and own four credit cards with a combined credit limit of $24, 000. Three cards are at zero balance, and the other one has a balance of $100. I would like to close the newest card because I’ve only used it once. It has a credit limit of $2, 000.
Credit Utilization Rate Explained Read More »
To raise your credit scores, it’s always best to pay down debt, as opposed to shifting it around. However, for most people trying to boost their credit rating, it’s not always possible to instantly pay off all their credit card debt. So what can you do in that case? You can shift debt around in order to strategically lower your credit card utilization rate.
How to Lower Your Credit Utilization Read More »
Question: “I have good credit and own four credit cards with a combined credit limit of $24, 000. Three cards are at zero balance, and the other one has a balance of $100. I would like to close the newest card because I’ve only used it once. It has a credit limit of $2, 000.
The Impact of Credit Utilization Rate on Your Credit Score Read More »
