Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
dhartigan

0 Contributions
0 People Helped
Credit Cards for (debt)/(credit) ratio
Should I open another credit card to decrease my credit card utilization? I currently have four credit cards open and only use one of them, which is still in the 0% APR range. My credit score is around 660, credit card utilization is 44%, and I have about a $15k credit limit . Is there a ratio of number credit cards to amount of credit available that affects the credit score? Thank you.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
784 Contributions
297 People Helped

Your utiliztion is much too high. 660 credit score is fair. You need to get those cards paid off, and get your utilization down to 20% or less. Your goal should be to never pay interest, it's wasted money, and get your score up to the high 700's as a minimum.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.