but does that mean to not spend more than a certain amount on your credit balances in genereal, or does it mean to make sure to pay off the debt each much so that it will reflect a low balance?
2007-05-26 17:27:27 · 4 answers · asked by daniel k 2 in Business & Finance ➔ Credit
Either way will work. If you pay the amount off each month you shouldn't have too much of a problem with this. Generally, you want to keep a low balance but by paying off each month should serve same purpose. GOOD LUCK
2007-05-29 20:35:56 · answer #1 · answered by Phineas J. Whoopee 5 · 0⤊ 0⤋
If you use your credit card on a regular basis for convenience and pay the balance down before the monthly statement comes out it will always show your credit to debt ratio as good. What they mean by high balances is a continuous balance, ie you maxed it out and are making minimum payments every month
2007-05-28 13:00:12 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋
I have heard Clark Howard say to never go over 50 percent of your credit line on a given credit card. He also said to try and keep it below 30 percent.
2007-05-27 01:48:40 · answer #3 · answered by The Iconoclast 3 · 0⤊ 0⤋
Usually its good not to use more then 10% of your balance.
2007-05-27 00:37:08 · answer #4 · answered by Miss.E 2 · 0⤊ 1⤋