You are currently viewing 30% is A Magic Number

30% is A Magic Number

30% of the total FICO credit score is based on Available Credit, or the amount of credit available on open accounts.  FICO credit scoring models rate credit scores higher if revolving accounts have balances less than 30% of the high credit limits.

The utilization factor that affects the credit score does apply to most accounts credit cards, car loans, mortgages, and other accounts including installment loans.  This is why your credit scores will go down when a new mortgage or car loan reports on the credit report.

And as those accounts are paid lower each month the scores steadily increase.

Get The Perfect Credit Score

For this reason it’s important to remind consumers that a fast and easy way to increase their credit score is for them to pay down the balances on their credit card accounts so the balances are lower than 30% of the limits.  Or they can call creditors to ask for a credit increase which can also improve their utilization and scores. 

30% is a magic number when it comes to credit scoring.

30% of the entire score is based on available credit, so insure you have real usable credit on your reports and that you keep your balances below 30% of your limits.

Give me a call today to get credit and financing for your business.

Choosing The Right Business Entity

Thomas Montgomery
Director of Community Outreach & Education
Contrarian Capital, LLC

Leverage Business Credit

Discover The New Secret to Getting Business Credit.

#1 Credit Repair Solution

Fix Your Credit Faster than Any Other Credit Repair System. . .Guaranteed!

60 Days Business Credit Blueprint

Step-By-Step Blueprint For Obtaining Bank Funding To Grow Your Business
Click to rate this post!
[Total: 1 Average: 5]

This Post Has 24 Comments

  1. ChrisPaw

    Really like your stuff, thanks for sharing

  2. cialis buy online

    Quality content is the crucial to attract the visitors to pay a visit the site, that’s what this
    web page is providing.

  3. Sony Dualshock

    I always spent my half an hour to read this website’s articles everyday along wjth a mug
    of coffee.

  4. If some one wants to be updated with most up-to-date technologies
    after that he must be visit this web age and be up to date all thhe time.

  5. Kafes kuşları

    This paragraph provides clear idea for the new visitors of blogging, that in fact how to do blogging and site-building.

  6. online okey oyna

    You could definitely see your enthusiasm in the article you write.
    The arena hopes for even more passiopnate writers like you who
    aren’t afraid to say how they believe. All the timme go after your heart.

  7. I constantly emailed this webpage post page to all my associates, since
    if like to reazd it next my links will too.

  8. dernek bilanço

    I constantly spent myy half aan hour to read thbis website’s content alll the ime
    along with a mug of coffee.

  9. Iptv Satış

    I’ve been surfing online more than three hours today, yet I never found any interesting article liike yours.
    It’s pretty worth enough for me. Personally, if all website owners
    and bloggers mad good content as you did, the web
    will bbe much molre useful than ever before.

  10. Its such as you read my mind! You seem to understand a lot about this,
    such as you wrote thhe e-book in it or something.
    I think that you can do with a few percent to drive thhe message home a little bit,
    but instead of that, this is magnificent blog.
    A great read. I will certainly bbe back.

  11. You should take part in a contest for one of the highest quality sites
    onn the web. I will recommend his site!

  12. haberpes

    Hello there! This post could not be written much better!
    Going through this post reminds me off my previous roommate!

    He constantly kept reaching about this. I will send his article
    to him. Pretty sure hee will have a very golod read.

    Many tbanks for sharing!

  13. iptv deneme

    This piece of writging gives clear idea designed for the new people of
    blogging, that gwnuinely how to do blogging and site-building.

Leave a Reply