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Question 1 of 1
Match the correct word with its description:
- there is a formula for success when it comes to credit utilization. It is suggested by experts that you only use 30% of your available credit. To figure out what you should be using, look for your high credit limit on each account and then see if your debt is under 30% of it.
- take a close look at what your credit history contains. Are there errors such as accounts that are not being reported right? Is there anything on the report that does not belong to you?
- old bills, late pays, judgments, other public records all impact your score.
- how long have you had credit. The “age of credit” plays a role in your credit score. Even old paid off accounts can help so make sure they are on there.
- when you apply for credit, the creditor will take a look at your credit file. This results in an inquiry. Inquiries can have a negative impact on your credit score. They should fall off after 2 years but sometimes they do not and you have to request to have them removed.
- what is your score? Your credit report can tell you.
- how much interest are you paying on your accounts? This can be good information that can help you look at other products with lower interest rates.
Available Credit and Credit Utilization
Age of Credit