5 Critical Credit Report Factors – 12 Things You Wish You Knew About Credit Reports Before Borrowing Money

12 Things You Wish You Knew About Credit Reports Before Borrowing Money

  1. Credit utilization ratio is important to most lenders. This takes into consideration the amount of debt you owe on a particular account, and the credit limit assigned to you. Banks and credit card companies look for a ratio of no more than 30%, meaning your balance should not exceed 30 percent of your credit limit. Maxed out credit accounts look bad to prospective creditors and lower credit scores.

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