| Almost all people who have a lot of consumer debt or | | | | looking for is how much of your current available credit |
| those who are worried about their credit often wonder | | | | have you used and this will make up almost 20% of |
| will credit card debt affect my credit score? This | | | | your score? generally if you are under 50% of your |
| article will look at that question and help you | | | | total available credit you will be safe, keep in mind |
| understand how your credit score is determined. | | | | however that each account should be under the 50% |
| First you must understand that your scores are | | | | mark in order for your scores to be their highest. |
| generated by a computer at the credit bureaus. These | | | | Do you Pay On Time - This will make up almost 30% |
| computers use a some what predictable algorithm to | | | | of your total FICO score and it is an easy one to |
| determine your final credit scores. One of the biggest | | | | figure out. If you pay late your scores go down. |
| things they look at is your debt, not only how much but | | | | However you have to be at least 30 days late before |
| also how you pay it and how long your accounts have | | | | the bureaus will report you. If you are only a few days |
| been open. Below you will see how each one breaks | | | | late then nothing will happen other then a late fee from |
| down into your final FICO score. | | | | the lender. |
| Total Amount Of Debt - What they are basically | | | | |