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How Much Credit Card Debt Should I Carry to Not Harm My Credit Score?

How Much Credit Card Debt Should We Carry to Not Harm Our Credit Score

Question: Dear Steve, I have three credit card accounts, all with Citibank. Two of them are closed. The one open account has a credit limit of $1700. I am just $140 below the limit on it. The other two are at about 40% or less. I am getting dinged on my FICO score as they …

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Shouldn’t I Be Able to Get All My Credit Scores? – Eugene

Question: Dear Steve, My situation, my credit scores are in the low 600’s and am trying to get all my credit cards under the 30% threshold and at the same time reduce my total debt. My problem though is with the credit scores. It seems now we have to be concerned with two sets of …

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What You Need to Know About Your FICO Score

If you have ever heard someone refer to your “score” or your “credit score” they are probably referring to your “FICO Score.” It is called a FICO Score as the way the number is calculated is based on software developed by a company called Fair Issac and Company. Once you have requested a loan, a …

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VantageScore, FICO Score, Experian Plus Credit Score. Which Credit Score Really Matters?

Let’s start with the basics, what a credit score really is. A credit score is NOT a value that identifies who is a better personal finance manager. A credit score IS a number that is calculated to allow lenders to identify which people are the least risky to lend to and who are most likely …

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Mary Lou Writes In And Wants To Know “Why Does My Credit Score Keep Going Down?”

Mary Lou “Dear Steve, My FICO score does not keep going up: 3/99 I filed bankruptcy-it will be 10 years next March and should come off my credit score. I owe $5,400 on one credit card and $7,300 on my car for a total of $12700. In January 2008, I owed over $26000. All bills …

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