Blog Entries tagged 'boosami' http://www.DueMinder.com/cmsj Mon, 06 Sep 2010 02:07:24 +0100 FeedCreator 1.7.3 http://www.DueMinder.com/cmsj/blog-sixty-to-zero/Canceling-Cards-Hurts-FICO.html <p>Generally, if you carry balances on your credit cards, canceling one of the accounts will hurt your FICO score.&nbsp; One key factor in the FICO calculation is the debt utilization ratio, which shows how much of your available credit you are actually using.&nbsp; If the total of the limits on all your cards adds up to $20,000, and your balances add up to $10,000, you have a utilization of 50%.&nbsp; That doesn't sound too bad, right?&nbsp; Actually, that is relatively high in the eyes of the [...] admin@dueminder.com Mon, 16 Mar 2009 07:00:00 +0100 savingadvice FICO boosami