Comments on: Is the FICO debt-credit ratio an average of each account or a total of all accounts? http://www.reducecreditcardbills.com/credit/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/ Eliminate Your Debt From Credit Cards Wed, 08 Feb 2012 23:37:01 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: SPIFIMAN1 http://www.reducecreditcardbills.com/credit/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/comment-page-1/#comment-1439 SPIFIMAN1 Sat, 06 Feb 2010 09:05:15 +0000 http://www.reducecreditcardbills.com/credit/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/#comment-1439 It's based on your total and you should never exceed 30% or your score will take a hit. It’s based on your total and you should never exceed 30% or your score will take a hit.

]]> By: Shannon http://www.reducecreditcardbills.com/credit/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/comment-page-1/#comment-1438 Shannon Sat, 06 Feb 2010 07:40:46 +0000 http://www.reducecreditcardbills.com/credit/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/#comment-1438 It is based on the total amount, you should try to stay below 50% for the best Credit Scores. It is based on the total amount, you should try to stay below 50% for the best Credit Scores.

]]> By: Tony Ning http://www.reducecreditcardbills.com/credit/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/comment-page-1/#comment-1437 Tony Ning Wed, 03 Feb 2010 22:45:54 +0000 http://www.reducecreditcardbills.com/credit/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/#comment-1437 Your FICO Score is impacted overall and individually. You should strive for a 75% debt to limit ratio or less. Example: $10,000 limit maximum debt should be no more than $7,500. You could have a total credit limit of $100,000 amongst your 10 cards and a total of $75,000 debt which fits the 75% ratio but if you have 1 bad credit card... eg. a card that is over limit, frequent late payments R2 R3 ratings, written off R9 etc... that 1 card will affect your FICO score. To sum it up... it's the overall and the individual credit scores that affect your FICO score. Hope that helps. Your FICO Score is impacted overall and individually.

You should strive for a 75% debt to limit ratio or less. Example: $10,000 limit maximum debt should be no more than $7,500.

You could have a total credit limit of $100,000 amongst your 10 cards and a total of $75,000 debt which fits the 75% ratio but if you have 1 bad credit card… eg. a card that is over limit, frequent late payments R2 R3 ratings, written off R9 etc… that 1 card will affect your FICO score.

To sum it up… it’s the overall and the individual credit scores that affect your FICO score.

Hope that helps.

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