✉news BusinessPersonal Finance first seen 17 h ago, last 1 h ago, peak #5
Credit utilization trap threatens scores as card debt climbs
Original: Rising credit card debt? Avoiding the ‘utilization’ trap can help maintain a credit score.
With credit card debt rising, personal finance writers are warning borrowers about the utilization trap: letting balances climb too close to credit limits, which can drag down credit scores even if payments are made on time. The advice is to keep the share of available credit being used low and pay down balances before statement dates to protect scores.
Why now: Rising household credit card debt is making borrowers anxious about protecting their credit scores.
Rank over time, top of the chart is #1. 13 snapshots from 17 h ago to 1 h ago.
Evidence
- Rising credit card debt? Avoiding the ‘utilization’ trap can help maintain a credit score. · Post and Courier
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