Chance News 51

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Quotation

Forsooths

Credit utilization ratio

“Is Your Credit Too Good? Why lenders are punishing those who borrow too little and always pay on time”, by Cybele Weisser, TIME, June 22, 2009

[T]he formula for determining credit scores … looks at something called your “utilization ratio,” the total amount of credit you use vs. the amount you have available. If you have $25,000 worth of available credit and you put $5,000 on your cards every month, your utilization ratio is a healthy … 20%. But cut down that credit line to $10,000 and suddenly your ratio jumps to 50%, making you look pretty overextended.

Submitted by Margaret Cibes

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