Sentences with phrase «total available credit line»

This category looks at revolving credit accounts to determine how much of your total available credit line you are utilizing.

Since you don't usually want to close a credit card account (it hurts your score marginally and lowers your total available credit line), it's important to consider the long - term ramifications of a credit card, too.

Once you've paid your first monthly installment of $ 582.19 ($ 500 principal + $ 82.19 in interest), your total available credit line will become $ 15,500.

Not exact matches

How each company calculates it remains a trade secret, but most consider your payment history, available lines of credit, the types of credit you have, credit inquiries you've made and the years you've had ongoing credit as part of the total number.

Although it increases your total available credit, opening several new lines of credit in a short period of time can actually hurt your score.

Customers can transfer any amount, up to their credit available for transfers, which may be less than their total credit line.

Third, any credit card that is over 50 % of the available credit line should be paid down to under half of your total credit line.

Also considered is the total amount of credit you have available (Try to keep your credit cards balances at less than 50 % of your total credit line).

If you have a $ 10,000 credit line and carry an $ 8,000 balance, you're using 80 percent of your total available credit.

You would be able to pay off your current loan and have up to about $ 9,000 available to you at closing or any time in the first 12 months and then another $ 26,281 after 12 months for a total line of credit of about $ 35,281.

Closing an account can certainly affect your score, by reducing your total available credit, thus making your ratio of used credit to credit line worse.

A scoring calculation as applied to credit scores where outstanding debt is compared to total potential debt based on credit lines available.

One of the key factors that cause credit scores to move up or down is how much debt you owe on revolving accounts (such as credit cards and lines of credit) compared to your total available credit limits.

your available balances or amount of available lines of credit compared to the amount you are actually using ie 4 credit cards with total available credit to you is $ 40,000 but in any one given month you use $ 3,000 and pay it off or pay it down.

Since only a portion of your total credit line is available for bank cash advances, it's important to keep track of the remaining amount that you can use for bank cash advances.

It's a good rule of thumb to try to keep your revolving credit utilization (credit cards, lines of credit, etc.) to around 30 percent of the total revolving credit available to you.

Your cash credit line (or limit) is the total amount of credit you have available for cash advances on your credit card.

After examining all your sources of income and reviewing your documents, some lenders use your total available credit to determine your credit eligibility when considering additional loans or lines of credit.

How each company calculates it remains a trade secret, but most consider your payment history, available lines of credit, the types of credit you have, credit inquiries you've made and the years you've had ongoing credit as part of the total number.

In fact, having another line of credit open will add to your total available credit and may improve your credit score.

The amount of money that can be made will depend on the total line of credit available.

While your utilization will indeed drop as your total available credit rises, that new credit line will require what's known as a «hard pull,» or credit review.

Third, any credit card that is over fifty percent of the available credit line should be paid down to under half of your total credit line.

As far as DTI and FICO — FICO looks at your total available credit to credit utilized (the aggregate balance and percentage advanced on all of your revolving lines including HELOCs, credit cards, and overdraft protection lines — if they are reported).

Besides recent applications for credit, your score will also vary from month to month, or even day to day, because of fluctuations in factors like your overall credit utilization (the amount you borrow in relation to your total available credit) and how much you utilize each of your lines of credit.

So, if you have one card with a $ 10,000 credit line with a $ 5,000 balance and another card with a $ 1,000 credit line and a $ 200 balance, your total credit utilization ratio across both cards is 47 percent ($ 5,200 owed divided by total $ 11,000 in available credit).

Either way, enough available credit so you don't get a bill representing more than 19 % of the total credit lines.

The total amount of outstanding transfer requests can not total more than your available line of credit.

This leaves your credit line intact, which gives you more total available credit to contrast what you owe against.

For example, if you have $ 50,000 in total credit lines available, and you owe $ 25,000, your credit utilization ratio is 50 % ($ 25,000 divided by $ 50,000) because you are using half of all the credit you have available.

The advantage of a line of credit is that you only pay interest on the funds you withdraw, not the total amount that is available to you.

Your cash credit line (or limit) is the total amount of credit you have available for cash advances on your credit card.

Anecdotal evidence suggests that Citi counts the credit lines of recently - closed accounts for 3 - 6 months against your total available credit.