My credit card balance is over 50%. How long will it take my credit score to go back up? February 26, 2010
Posted by Banking in : Credit , 3comments
Casey asked:
Hi. I recently just got my first credit card ever and used it to make a $1600 purchase. The credit limit is $3000, so obviously I’m over 50% of the balance, and I just learned that’s bad for credit scores. I expect to be able to pay off the purchase in the next two or three months. Will my credit score go back up immediately after I get the balance on my card down, or will it take a while? Thanks.
Hi. I recently just got my first credit card ever and used it to make a $1600 purchase. The credit limit is $3000, so obviously I’m over 50% of the balance, and I just learned that’s bad for credit scores. I expect to be able to pay off the purchase in the next two or three months. Will my credit score go back up immediately after I get the balance on my card down, or will it take a while? Thanks.
Why credit scores of tenants much lower than credit card holders? November 12, 2009
Posted by Banking in : Credit , 1 comment so far
I read somewhere that credit scores of renters (real estate) tend to be around 520 to 630, while credit card holders or other financial credit customers much hight?
is it because there is less risk for approving tenants to rent a real estate (commercial or regular), as oppose to someone who has trade lines with a financial institution (like auto loans, bank loans, etc)?
Thanks
By: Dr. W
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