Credit Card Balances and Your Credit Score

Credit Card Balances and Your Credit Score It's no secret - credit card balances are an important element of your credit score.  Most people know the general rule of "the lower the better."   The lower credit card balances are better than high ones when it comes to your credit rating.  However, many don't know the science behind how most credit scoring algorithms view credit card balances. How Your Credit Report Sees Credit Card Balances Credit scoring algorithms favor low credit card … [Read more...]