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How high credit cards affect your credit score?

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2010-03-24 12:52:05
2010-03-24 12:52:05

High Credit card balance affect your credit score negatively.

See, the debt to credit ratio makes up 10% of your credit score.

This means the amount of money you owe on a credit line. The more you owe, the worse it hurts your credit (maxed out cards do the most damage).

It is recommended to try to be below 30% of your line of credit.

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== == Your overall credit history will determine how your credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if your credit history is questionable. == == == ==


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