Term: Credit Card Utilization
2 found

Too Much Holiday Debt? Don’t Make It Worse

By Steven Shaw on 1/4/2014

Too Much Holiday Debt? Don't Make It Worse

As a credit card user, your main prerogative is to steer clear of racking up high debt (especially on a high-interest card). However, if you’ve tangled yourself in a messy debt situation, there are options to simplifying what you owe, as well as how much interest you’ll accrue. By opening a low-interest balance transfer credit card, you can get a break on your debt payments.

Credit Card
Credit Card Debt
Credit Card Utilization
pay off credit cards

I Have Too Many Credit Cards. What Do I Do?

By Steven Shaw on 8/13/2013

too many unused credit cards

We recently received a question from a reader who wants to know if there’s any way she can close unused credit cards without hurting her credit scores and how taking this action could impact her credit overall:

I have at least ten credit cards and I only use two of them — Amazon and a Discover card that I only use when I shop Costco. I really want to close the other accounts since I have so many, but I keep hearing how it can hurt your credit. I do not have a balance on any of the cards including the Amazon card. Is there anything else I can do? 

Revolving Utilization
Credit Card
Credit Card Utilization