The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Some house cleaning questions Date:  1/2/2013  6:37 PM
Author:  Gingko100 Number:  306618 of 312954

So, if the most you spent in any one month during the last few years on your daily spend card was $4,000, and you typically spend $2,000 in a month, your typical ratio will show as 50% and in the month you spend your maximum, the ratio will show as 100%. On a single card, these ratios can be high enough to trigger a lower credit score.
This is exactly what happened to me. I closed all cards, had one open card that reported my $ balance spent as my limit, so it looked like I was using 100% of my credit balance - making me look like a deadbeat.

Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us