Posts Tagged ‘ balance ’

Difference between “balance-to-limit ratio” and “debt-to-income” ratio

Dear Experian, What is the appropriate balance-to-limit or debt-to-income ratio? I do not maintain a balance on my credit cards but worry that I have credit limits that are too high and could impact my overall credit. - TBL

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Responding to credit score factor that says proportion of balances to limits is to high

Dear Experian, Recently, I was told that my proportion of balances to credit limits is high. If I keep making payments to my credit card and keep my statement balance below 20% of my credit limit, will that help? - ATD

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Credit card paid in full but does not show zero balance

Dear Experian, I pay my credit cards off in full before the payment is due, yet my report shows a 60 percent utilization ratio. Why is this happening and how can I prevent this besides getting more available credit or not using my cards? - RBR

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Lowering credit limits can hurt credit scores

Dear Experian, I have heard that requesting lower credit limits can hurt your credit scores. Is this true? -MMB

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Impact of balance transfers on credit scores

Dear Experian, I have a question about balance transfers. I have a credit card with a balance that I am paying interest on. My husband has an existing credit card balance transfer offer at 0% for 12 months. That card is under his name and it has no balance. If I transfer my balance to his offer, how will that affect our credit score? Also, do any balance transfers affect your credit scores as long as you do not utilize any of the accounts after the transaction? - STN

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