Maxing out credit cards

One of my favorite phrases you will see concistantly on this blog is "rule of thumb". A great "rule of thumb" is to keep your credit card debt under 50% of the max limit. That is ofcourse if presently you cannot get it paid down to $0. Having balances over 50% can have a negative impact on your score with the 3 major credit agencies. Lenders may also think you are borrowing more than you will be able to pay back. Try to only use 30% of your available credit and always make it a priority to get the credit card paid down to $0 if possible.

Nik Tsoukales
President
Virgin Credit
617.265.7900 Office
info@VirginCreditRepair.com
www.VirginCreditRepair.com