Opening a new credit card can lower a consumer's credit utilization ratio because the new credit limit increases the total available credit.

Authors

• Person: Not available Organization: First Exchange Bank
  7 Ways Your Credit Score Affects Your Financial Health

Sources

• 7 Ways Your Credit Score Affects Your Financial Health www.firstexchangebank.com First Exchange Bank via serper

Referenced by nodes (3)

• credit utilization ratio concept
• credit card concept
• credit limit concept