Comments on: How low is a good debt-to-credit ratio? http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/ Sun, 11 Sep 2011 10:50:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Ted http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/comment-page-1/#comment-1274 Ted Wed, 30 Dec 2009 14:25:27 +0000 http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/#comment-1274 In case it wasn't obvious, spifman was referring to REVOLVING credit, i.e. credit cards and Home Equity Lines of Credit. Not including car loans and mortgages. In case it wasn’t obvious, spifman was referring to REVOLVING credit, i.e. credit cards and Home Equity Lines of Credit. Not including car loans and mortgages.

]]> By: SPIFIMAN1 http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/comment-page-1/#comment-1273 SPIFIMAN1 Sun, 27 Dec 2009 15:08:14 +0000 http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/#comment-1273 I can not believe the people that answer this without actually reading your question. For the best credit score you debt to credit ratio should be less then 30%. This is based on your total debt divided by your total credit. Say you have 5 credit cards with credit limits of $5,000.00 each for a total of $25,000.00 and outstanding balances of $7,000.00, your debt to credit ratio would be 28%. But if you canceled 2 of those cards and lowered your total credit to $15,000.00 with the same balance your debt to credt ratio would rise to 50%. Your score takes a hit when you exceed 30% another when you exceed 50% and another when you exceed 90%. I can not believe the people that answer this without actually reading your question.

For the best credit score you debt to credit ratio should be less then 30%.

This is based on your total debt divided by your total credit.

Say you have 5 credit cards with credit limits of $5,000.00 each for a total of $25,000.00 and outstanding balances of $7,000.00, your debt to credit ratio would be 28%.

But if you canceled 2 of those cards and lowered your total credit to $15,000.00 with the same balance your debt to credt ratio would rise to 50%.

Your score takes a hit when you exceed 30% another when you exceed 50% and another when you exceed 90%.

]]> By: golferwhoworks http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/comment-page-1/#comment-1272 golferwhoworks Sat, 26 Dec 2009 10:47:23 +0000 http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/#comment-1272 $300 at all time $300 at all time

]]> By: mary p http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/comment-page-1/#comment-1271 mary p Thu, 24 Dec 2009 19:07:38 +0000 http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/#comment-1271 Whay I have learned from experience....run your credit line up to its limit..always make a payment plus more..the credit company, will all by itself increase your limit.....Be careful!! Whay I have learned from experience….run your credit line up to its limit..always make a payment plus more..the credit company, will all by itself increase your limit…..Be careful!!

]]> By: Steve D http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/comment-page-1/#comment-1270 Steve D Thu, 24 Dec 2009 14:57:49 +0000 http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/#comment-1270 Depends on what you are applying for. If you are talking a mortgage, your final debt-to-income ratio should be under 45% including the mortgage. Depends on what you are applying for. If you are talking a mortgage, your final debt-to-income ratio should be under 45% including the mortgage.

]]> By: Heaven Lee http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/comment-page-1/#comment-1269 Heaven Lee Thu, 24 Dec 2009 10:53:19 +0000 http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/#comment-1269 Between 40 and 45. Most lenders, nowadays, won't lend if it is any higher. Between 40 and 45. Most lenders, nowadays, won’t lend if it is any higher.

]]> By: Biggie @ Arbor Mortgage http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/comment-page-1/#comment-1268 Biggie @ Arbor Mortgage Mon, 21 Dec 2009 23:21:18 +0000 http://debtreliefreviews.net/how-low-is-a-good-debt-to-credit-ratio/#comment-1268 I think you are referring to debt-to-income ratio & it is under 43%. I think you are referring to debt-to-income ratio & it is under 43%.

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