Posts Tagged "ratio"

Asking your lender to reduce the credit limit on a credit card could hurt your credit scores

Dear Experian,

I have one credit card with a zero balance and a $10,000 limit. Will my credit score be hurt if I reduce my limit to $5,000?


Closing store credit cards could affect your credit scores

Dear Experian,

Can closing a few of my department store credit card accounts affect my credit scores if I have established good credit and have high credit scores? My husband wants to eliminate our higher interest rate cards.


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.


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?


Why closing a credit card can hurt your credit scores

Dear Experian,

Why does closing a credit card you are no longer using negatively affect your credit?


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