manage your credit | credit score on a billiard ball

Does credit card debt hurt my credit score?

Does credit card debt hurt my credit score?

Credit card debt can lower your score, but it does not necessarily do so. It depends how much debt you have, how you pay on it, and what size credit lines you have.  An important part of your credit score examines your credit utilization, your credit card balances in comparison to the total credit limit your creditors granted you.  Using a high percentage of your available credit hurts your score.

0 Comments
1500 characters remaining
loading...