How much will having excess debt lower a credit score?

Answer Excess debt can lower your credit score quite a bit because owed debt accounts for 30 percent of the credit score. The exact impact of debt can vary widely, however, as other particulars of the deb... Read More »

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Does Having Too Much Credit Hurt a Credit Score?

If you are closely monitoring your credit, one item to watch is the amount of available credit you have, as well as the number of open credit accounts. A copy of your credit report can tell you wh... Read More »

Will a freeze lower my credit score?

On One Hand: No Effect on Credit ScoreAccording to the Federal Trade Commission (FTC), placing a freeze on your credit to restrict access to your credit report will not affect your credit score in ... Read More »

Will a debt reduction program ruin your credit score?

Debt-reduction programs often entail aggressive strategies for debt settlement at a very low percentage of the amounts owed. While this can help you get out of debt quickly, creditors may leave a n... Read More »

Will running a credit check lower your score?

People often hear that a credit check can lower their FICO score, a credit score derived by Fair, Isaac and Company. While true, credit checks are unlikely to do any significant damage, and there a... Read More »