Credit card utilization rate impacts explained
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Credit card utilization rate impacts explained
Closing a credit card impacts your credit utilization rate, making up 30% of your credit score. Learn how this can have more significant impact than you might think.
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Replying to @Str8talk there are two components to credit card utilization each individual account and the total overall. Even having one credit card that is maxed out with high utilization will absolutely cause a negative impact to your credit score and lower your approval and or credit limits on any new credit cards you go after let me know what other credit tips you would like me to cover #credittips #creditcard #moneytips #creditscore
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Replying to @Str8talk there are two components to credit card utilization each individual account and the total overall. Even having one credit card that is maxed out with high utilization will absolutely cause a negative impact to your credit score and lower your approval and or credit limits on any new credit cards you go after let me know what other credit tips you would like me to cover #credittips #creditcard #moneytips #creditscore
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Replying to @Str8talk there are two components to credit card utilization each individual account and the total overall. Even having one credit card that is maxed out with high utilization will absolutely cause a negative impact to your credit score and lower your approval and or credit limits on any new credit cards you go after let me know what other credit tips you would like me to cover #credittips #creditcard #moneytips #creditscore
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