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Another Rapid Rescore Success Story
Credit scoring is a rather arcane formula.  One of the biggest factors that can make or break your credit score is your debt ratio on revolving accounts.  The credit scoring model takes many different factors into account, and this debt ratio factor accounts for approximately 30% of your credit score.  I'm not talking about the debt ratio calculation that is a calculation of your income versus your total debt.  That is called debt-to-income ratio.  Although that ratio is used in the mortgage qualifying process, it does not directly affect your credit score.  The debt ratio in this case is how much you owe on your credit card compared to the credit limit itself.  For example, if you had a balance of $750 on a credit card with a $1000 limit, your debt ratio on that account would be 75%. 
The credit scoring model considers this ratio an important factor in determining your credit score, regardless of the amount of the debt and/or credit limit.  Once the balance on a revolving account goes above 50% of the credit limit, your score will tend to drop.  Once it goes above 75%, it will usually drop even more.  Ideally, you want to keep your credit cards below ... more

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