Credit accounts that are at or near their credit limits contribute to poor credit scores because a high credit utilization rate may signal to potential creditors that an applicant is financially overextended.

Authors

• Person: Not available Organization: Credit Union of Colorado
  7 Behaviors That Hurt Your Credit Score | Credit Union of Colorado

Sources

• 7 Behaviors That Hurt Your Credit Score | Credit Union of Colorado www.cuofco.org Credit Union of Colorado via serper

Referenced by nodes (2)

• credit utilization ratio concept
• credit score concept