How long will the credit utilization ratio affect my score?
Date: Fri, 09/27/2013 17:27
I want to know if the credit card companies report the overall financial transactions to credit bureaus or just the monthly balance. My credit utilization ratio is below 10 percent. I make extra payment prior to the statement closing date every month. Is this strategy good? There's yet another thing I want to know. How long will the utilization ratio affect my score?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.