Understanding Tradelines and High Utilization

  • Home
  • Understanding Tradelines and High Utilization

Understanding Tradelines and High Utilization

January 1, 2021 pthnw 0 Comments

High credit utilization ratios can significantly lower your credit score. Relying on purchased tradelines to mitigate this can be a short-term solution (see “Avoid Last-Minute Tradeline Purchases”). Instead, focus on reducing your debt and understanding the importance of a diverse credit mix (see “Understanding Credit Mix: A Crucial Element in Your Credit Score”) and a well-managed average age of accounts (see “Overlooking the Impact of Average Age of Accounts”). Closed accounts can also impact your credit score, so consider their effect when planning your credit strategy (see “Considering Closed Accounts in Your Average Age of Accounts”). Aim for balanced credit usage across various accounts for sustainable credit health.

leave a comment