Comments on: Is the FICO debt-credit ratio an average of each account or a total of all accounts? http://debtreliefreviews.net/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/ Sun, 11 Sep 2011 10:50:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: SPIFIMAN1 http://debtreliefreviews.net/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/comment-page-1/#comment-1249 SPIFIMAN1 Sat, 26 Dec 2009 00:26:53 +0000 http://debtreliefreviews.net/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/#comment-1249 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://debtreliefreviews.net/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/comment-page-1/#comment-1248 Shannon Thu, 24 Dec 2009 02:57:05 +0000 http://debtreliefreviews.net/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/#comment-1248 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://debtreliefreviews.net/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/comment-page-1/#comment-1247 Tony Ning Mon, 21 Dec 2009 17:34:56 +0000 http://debtreliefreviews.net/is-the-fico-debt-credit-ratio-an-average-of-each-account-or-a-total-of-all-accounts/#comment-1247 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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