Sentences with phrase «of credit lines»

Owing money doesn't necessarily mean that you are a high - risk borrower, but when a high percentage of your credit lines are in use or «maxed out», this can indicate a borrower who is financially overextended and more likely to miss a payment.

While carrying a balance doesn't necessarily mean you're a high - risk borrower, when a high percentage of your credit lines are in use or «maxed out», this can indicate a borrower who is financially overextended and more likely to miss a payment.

-- You also revolutionized the way art is produced, by developing the concepts of credit lines for artists

You don't want to lose any of your credit lines, as having plenty of credit helps keep your utilization ratio low, which is good for your credit score.

What we should do is focus on increasing our credit lines — through the strategic merging of credit lines from other cards.

Creditors like to see that you can manage multiple and different types of credit lines.

Your credit score considers the average age of your credit lines.

Then he went further are suggested cutting ALL of my credit lines in half ($ 48,000 to $ 24,000, not including the recent United Club card that was approved) and even possibly closing one or two.

Lenders like to see a variety of credit lines.

Similar to opening new accounts, the type of credit lines you have can seriously impact your score.

I noticed that one of my credit lines with a random bank was still open.

So for example, someone with high income and a 20 year stellar credit history, with most cards held for 10 years or more, on - time payments and no delinquincies, and low utilization of credit lines who starts applying for cards might be able to get approved with 15 or more inquiries total on his her credit report, whereas the story will be quite different for, say, a college student with low income and short credit history.

The database is also useful because it lists whether or not people were approved based on their credit scores, and also what type of credit lines they were given.

But factors such as debt, payment history, new extensions of credit, and types of credit lines that you hold will affect your credit rating.

«Proportion of credit lines used (proportion of balances to total credit limits on certain types of revolving accounts)» [3]

If you have had a credit card for a long time, transferring a balance from newer cards can increase the average age of your credit lines.

Many consumers who move forward with debt settlement have already begun to miss payments, have maxed out many of their credit lines, and have seen much of the damage already done.

Most people may not think of credit lines this way, but they can be a source of cash in an emergency.

Most Canadian Variable Rate Mortgage holders or holders of credit lines will notice an increase in their payments on the next payment cycle.

Considerations include the number of total accounts and the number of different types of credit lines.

You will lose all of your available credit which will reduce your credit score, unless all of your credit lines are already maxed out.

Such plans require a client suspend the use of their credit lines and make one monthly payment to the credit coaching organization, which in turn pays the creditors.

The proportion of credit lines used is also important.

We talked about this earlier, but the reality is the people who make the rules prefer consumers carry multiple types of credit lines, and installment credit — such as the kind you'd incur through a CD - secured loan — are given more credence than the revolving credit that comes with plastic.

Businesses and individuals can receive various types of credit lines, such as a home equity line of credit.

A reporting agency for an individual considers several things including the amounts and types of credit lines the individual has, their debt - to - income ratio and their longevity at the current residence.

The additional mix of credit lines can increase your score.

Long term, successful use of a number of credit lines is a good way to improve your credit score, but this is a strategy which takes a while to play out.

On the one hand, the healthy mixture of credit lines indicates that the loan providers trust you and ready to give you loans, besides the more credits you have the better your credit utilization ratio is.

This section takes into account how much of your credit lines you are using.

The score tells you how much credit you have, how you use it, how timely you pay your bills, the age of your credit lines, and mixture of credit.

A fresh account lowers the average age of your credit lines, while a high balance on a low credit line can inflate your credit utilization ratio.

The National Federation of Independent Business reported that approximately 40 percent of small business owners who requested extensions of their credit lines in 2009 were turned down, and many of those who received extensions were required to provide or increase collateral, pay higher interest rates or agree to other more stringent terms.

Ideally you want a mix of both credit lines and fixed loans.

But make no mistake, some cards are definitely better than others in terms of interest rates, rewards, and the types of credit lines offered.

Today» economy can make paying off credit card debt difficult, but reducing your balances to less than one - third of your credit lines is a good start.

Additionally, part of your credit score is comprised of the percentage of your credit lines that you are using.

If you miss a payment on one or more of your credit lines, lenders will see you as a risky prospect.

It's important to understand the difference and types of credit lines before simply canceling one.

That ratio equals your credit card balances divided by the amount of your credit lines.

If you look at the factors closer, there is one called Credit Mix, or the variety of credit lines you have opened.

The final factors show the lender how much credit a person currently has access to use, whether they can afford it or not, plus how new some of the credit lines might be.

This is often calculated across all of your credit lines.

Number of credit lines

Further, consumers who utilize more than 50 percent of their credit lines will see their credit scores drop, which lowers not only the cost of personal borrowing but makes borrowing from a bank or other lender more costly.

The logic behind this piece of misguided advice seems sound at first: The average age of your credit lines affects your credit score, and the older, the better.

Based on those numbers, the Merrill representative gave Holland --- on that same day --- an estimate on the size of the credit line Merrill could offer.

With this card, the amount of your credit line is equal to the amount you deposit.

All or part of the credit line can be accessed at any given time up to the fixed limit, repaid, and used again.

If you are going to regularly access the line with multiple transactions during the term of the credit line, additional fees could also apply.