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To determine if the balance of non-mortgage accounts is too high, compare it to your income and financial goals. If the balance is significantly higher than what you can comfortably afford or save for your goals, it may be too high.

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5mo ago

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Are the balances on your accounts too high in comparison to your loan amounts?

Do the amounts in your accounts exceed the amounts you owe in loans?


What factor will your credit rating have?

About 30 individual factors are used to determine the score. Certain factors, such as payment history, have more weight than others, such as the length of your credit history. Also informative is the list of "reasons" that may be provided to account for why a score isn't higher. When lenders request your credit score, they also receive a list of the four most significant reasons your score is not higher. The possible FICO reasons are: * Amount owed on accounts is too high. * Delinquency on accounts. * Too few bank revolving accounts. * Consumer finance accounts. * Too many accounts opened in the last 12 months. * Amount owed on revolving accounts is too high. * Time since delinquency is too recent or unknown. * Length of credit history is too short. * Amount past due on accounts. * Date of last inquiry too recent. * No recent bankcard balances. * Too few accounts with recent payment information.


Is that you can maintain zero balance in posb bank?

Usually banks offer zero balance bank accounts to customers who have salary accounts with them. I have a zero balance account with DBS and since DBS and POSB are part of the same group, I guess they too will have a zero account balance bank account. You need to submit this bank account to your employer and if they GIRO your salary to this account automatically every month, it should be fine.


Is it better to have paid off open credit accounts on your credit report or should you just go ahead and close them?

It all depends on your income. It is good to have zero balance credit cards on your credit report. But if your potential debit to income ratio is too high, having too many credit cards could be a negative reflection on your credit score.


How to bring my credit score up 60 points in 30 days?

The two biggest things that can hurt your credit score are not paying your credit on time and holding too much of a balance on revolving accounts. The best way to bring up your credit score 60 points in 30 days would be to make sure you pay all of your accounts on time and to pay down as many revolving accounts as you can.

Related Questions

Are the balances on your accounts too high in comparison to your loan amounts?

Do the amounts in your accounts exceed the amounts you owe in loans?


What factor will your credit rating have?

About 30 individual factors are used to determine the score. Certain factors, such as payment history, have more weight than others, such as the length of your credit history. Also informative is the list of "reasons" that may be provided to account for why a score isn't higher. When lenders request your credit score, they also receive a list of the four most significant reasons your score is not higher. The possible FICO reasons are: * Amount owed on accounts is too high. * Delinquency on accounts. * Too few bank revolving accounts. * Consumer finance accounts. * Too many accounts opened in the last 12 months. * Amount owed on revolving accounts is too high. * Time since delinquency is too recent or unknown. * Length of credit history is too short. * Amount past due on accounts. * Date of last inquiry too recent. * No recent bankcard balances. * Too few accounts with recent payment information.


Is that you can maintain zero balance in posb bank?

Usually banks offer zero balance bank accounts to customers who have salary accounts with them. I have a zero balance account with DBS and since DBS and POSB are part of the same group, I guess they too will have a zero account balance bank account. You need to submit this bank account to your employer and if they GIRO your salary to this account automatically every month, it should be fine.


What has gone wrong with the banks in America?

Some banks are charging too many fees for their checking accounts and others are not giving their customers high enough interest rates on savings accounts.


What error will be intoduced if you fail to set the zero point of the balance before making a reading?

The reading could be too high or too low.


Can having too many charge accounts or closing extra accounts negatively affect your credit score?

if you have too many open accounts and owes money, it does affect your credit score. your debt ratio is too high, and you will have difficult time applying for any kind of loans. when closing your accounts, and they are paid off. at first, it will lower your credit score, then will incrase following month or two. asian623 http://www.myspace.com/scionturboracing


Is it better to have paid off open credit accounts on your credit report or should you just go ahead and close them?

It all depends on your income. It is good to have zero balance credit cards on your credit report. But if your potential debit to income ratio is too high, having too many credit cards could be a negative reflection on your credit score.


Is the women's New Balance running shoe highly rated?

The running shoe new balance 1080v2 is rated high. The minimus 20v2 trail is also rated high. The minimus 10 is rated high too. The new balance 1012 is also rated high. Yes i believe they would be a good shoe as long as he reviews are what you like and the qualities.


Why does your salt generator quit and say high salt or amps?

You have probably added too much salt. Your system is out of balance.


What does derogatory public record or collection filed mean?

what does this mean SERIOUS DELINQUENCY, AND DEROGATORY PUBLIC RECORD OR COLLECTION FILEDNUMBER OF ACCOUNTS WITH DELINQUENCYTOO FEW ACCOUNTS CURRENTLY PAID AS AGREEDPROPORTION OF LOAN BALANCES TO LOAN AMOUNTS IS TOO HIGH


Will removing an authorized account that has a high balance raise the fico score of the authorized user?

It depends. Does the high balance put the consumer into a position of too much credit? Does this single high balance cause the consumer to have outstanding $100,000 in credit card debt? Or does the amount merely allow for the consumer to show that they can be responsible with making regular payments (with this account being the only debt owed.)


How long are accounts blocked on panfu?

well too be honest i dnt have a clue too