Wednesday, August 10, 2011

High credit utilization affect on credit score?

Close any credit cards you do not use and never use more than 1/3 of the available balance AND pay more than the minimum payment. Before applying for a car loan, find out what you can afford to spend on a monthly payment including insurance and maintenance. Going in knowing what you can realistically afford will keep you from tanking your credit score because you got a loan you really can not afford to pay.

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