I have been led to believe that a component of one’s overall credit score is the ratio of current credit card balances to one’s total available credit. If one had three credit cards, is each card’s ratio calculated individually, or is it one’s total credit card balance compared to one’s total available credit? Also, I’ve heard that the important thresholds are 30 percent and better yet, 10 percent; is that correct?
Why is my credit bad? I paid every thing on time.
I have heard that requesting lower credit limits can hurt your credit scores. Is this true?
I have four accounts that have a limit of $300 each. I have had these accounts for years. I would like to know if I should close them once I pay them off. I am concerned that having credit cards with low credit limits is negatively affecting me.
Categories: Report Advice
If I lower my credit limits on my credit cards, does that lower my credit score? If so, why?
My credit is spectacular! One card has decided to lower my credit limit. I have never been late for any cards and all have been paid off. Will this hurt my score?
Will going over the credit limit on a credit card affect my credit negatively, even if the creditor does not charge a fee?