Sentences with phrase «higher credit utilizations hurt»

Since higher credit utilizations hurt your credit score most, you should focus on lowering your credit card balances for all credit utilizations over 30 %.

Not exact matches

Paying interest on revolving debt hurts credit scores by leading to higher utilization ratios.

High utilization on one credit card can hurt your credit score.

If they report before you have paid the card off then your credit utilization will be very high and that would hurt your score.

These actions can hurt your score if they result in higher credit utilization (percentage of balance to credit limit); therefore, you're going to want to preserve your credit lines by keeping your credit card accounts open and using them frequently — while, at the same time, maintaining low balances.

An excessively high utilization rate hurts your credit score.

This practice can seriously hurt your credit score as carrying a high balance changes your credit utilization ratio.

To give you an example of how a higher balance on one card one month can raise the utilization percentage from the prior month — and hurt the score — let's say a card has a credit limit of $ 1,000 and the monthly charges typically add up to $ 100 before being paid off the following month.

If your credit utilization ratio is already high, making minimum payment may hurt your credit score.

Contrary to popular belief, this does not hurt your credit score much, and actually will make it more solid in the long run as you will have higher and higher credit limits and lower and lower credit utilization ratios.

If you ever want to make a large purchase on a credit card or you want to meet a spending requirement for a credit card bonus, but you don't want to be hurt by the high credit utilization, use this simple trick.

See related: 10 surefire steps to get errors off your credit reports, High installment loan utilization hurts your credit score

As mentioned earlier, a high credit utilization ratio will hurt your credit score.

High installment loan utilization hurts your credit score — Owing a lot on installment loans isn't as damaging as maxing out a card, but it still suppresses your credit score... (See Installment)

Plus, with no pre-set spending limit, the credit line associated with an NPSL card won't help your credit utilization (though this also means a high balance on these cards may not hurt your score).

«While not having the negative effect of late payments or high credit utilization, excessive applying for credit can definitely hurt your cause,» says Barry Paperno, a credit scoring expert who writes CreditCards.com's weekly Speaking of Credit ccredit utilization, excessive applying for credit can definitely hurt your cause,» says Barry Paperno, a credit scoring expert who writes CreditCards.com's weekly Speaking of Credit ccredit can definitely hurt your cause,» says Barry Paperno, a credit scoring expert who writes CreditCards.com's weekly Speaking of Credit ccredit scoring expert who writes CreditCards.com's weekly Speaking of Credit cCredit column.

Your overall utilization is more important than the specific utilization of each card but having a high utilization on a single card can still hurt your credit score, especially if you don't have many credit accounts.

That helps boost your credit; even if you're making minimum payments, carrying a high balance hurts your credit utilization ratio — and that's 30 percent of your credit score.