Sentences with phrase «utilization rate»
Utilization rate refers to the extent or percentage to which something is being utilized or used effectively. It is a measure of how much of a resource or capacity is being employed or utlized compared to its maximum potential. Full definition
Always paying bills by the due date, keeping credit utilization rates low, and avoiding opening unnecessary credit accounts are all good ways to maintain a «good» or better credit rating.
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As mentioned, lower utilization rate means higher credit score.
It's said that having a credit utilization rate of less than 30 % is optimal.
An excessively high utilization rate hurts your credit score.
Just remember: the lower your credit utilization rate on individual cards and across all your credit accounts, the higher your score will be.
For instance, credit card utilization rate — the ratio of your credit card debt to available credit — can be a major impact on your score.
These accounts are important because their credit lines help to keep you credit utilization rate as low as possible.
Take each of your open credit card accounts and calculate your credit utilization rate by dividing the balance by the credit limit.
The credit - scoring bureaus respond best to people with utilization rates below 30 percent.
You have to be careful with your spending and strive to keep your credit utilization rate at 30 % or below.
I understand that my overall utilization rate will go down given that I don't plan on necessarily spending more per cycle.
But if you close the $ 10,000 limit card — perhaps because it's not being used — your credit utilization rate jumps to 80 percent.
A low utilization rate means less electricity is transmitted and sold to utility companies, producing less revenue for grid investors seeking to recoup their investment costs.
Lower available credit means a higher credit utilization rate if you are carrying balances on your open cards.
If you take out a loan for less, you might be lowering your overall total utilization rate.
Keeping your credit utilization rate under 30 % can lead to a higher credit score, even if all other factors remain the same.
The credit agencies like to see utilization rates below 30 %, so you need to do what you can to get to, or below, that number.
The average utilization rate for lawyers was just 28 %.
As a rule of thumb, utilization rates above 30 % (give or take) are considered to be less - than - ideal for your credit score.
Even as law firm revenues rally and demand, particularly for transactional work, jumps back, utilization rates remain low.
On the other hand, if you're trying to boost your credit score, then you'll want to pay off the card with the highest utilization rate first.
Credit utilization rate makes up 30 % of your credit score and if you're suddenly using more of your credit, expect for your score to take a nose dive.
The industry is now seeing double - digit volume growth, while most fleet utilization rates are exceeding 91 %.
If adopted, the school district's building utilization rate would rise from 67 to 80 percent.
People with the highest credit ratings are those whose utilization rates are around 6 %.
Experts suggest you apply the same utilization rate as an unsecured card, meaning limit your purchases to 30 % or less of the available credit.
Your credit score considers utilization rates for each card and for all card accounts in aggregate.
If you closed one of your cards that had a $ 10,000 limit, your new utilization rate would climb to 50 %.
So what's the ideal credit card balance utilization rate to optimize your credit score as high as possible?
In fact, a high credit utilization rate actually lowers your score as it makes you look riskier.
Lower credit utilization rates lead to better credit scores.
A high credit utilization rate negatively impacts your credit.
That helps ensure that your credit utilization rate stays low.
This point goes back to importance of accurate utilization rates.
While the city has some of the highest public transportation utilization rates, roughly a third of residents commute by car.
Increasing your limit in small increments by getting a new credit card can lower your credit utilization rate by giving you more money to use.
When using this method, take into consideration that your credit score might take a hit if you have a credit utilization rate of over 30 percent.
A big factor in the calculation of your credit score is your credit card utilization rate.
Keep paying your bills on time and keep your credit utilization rate as high as possible and you should see a difference in your credit score with patience and time.
However, closing one of the cards would put your credit utilization rate at 40 %, which will negatively affect your score.
If you close one of the cards, suddenly your credit utilization rate jumps to 40 % ($ 1,000 / $ 2,500).
If the credit card company is only reporting a $ 500 limit, you will appear to be carrying a 60 percent utilization rate.
However, paying off your student loan will not impact your credit utilization rate for the better in any way.
The total combined balance is $ 750, or 30 % of available credit — your overall utilization rate.