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Posts Tagged ‘ utilization rate ’

Lowering credit limits can hurt credit scores

  • October 10th, 2012
  • Posted in Credit Scores . Featured

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

The impact of using 99% of your available credit before applying for a mortgage

  • December 8th, 2010
  • Posted in Credit Reports

Dear Experian, I was looking at my credit report online and it showed that I am using 99 percent of the credit available to me. What does that mean? Also, I know that I have one student loan that is at almost $60,000. How much effect is that going to have on me if I am trying to get a home loan? - RAH[ READ MORE ]

Rumor to leave accounts open is correct

  • March 18th, 2009
  • Posted in Credit Reports . Credit Scores

Dear Experian, My husband and I have several credit cards, all with limits under $1,500.00. We wanted to pay off and close the high-rate cards we don't use, because we were told by a car dealer that even if the card with a high balance is paid to a zero balance, the fact that it is still open and "available" credit for using will hurt our scores. On the contrary, I have heard a rumor that closing a credit card looks bad. What's the truth in this? - EPH[ READ MORE ]

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