Experts say there is a misconception among consumers that your credit score won't be negatively affected unless your total balance climbs above 30% of your available credit.
As your revolving debt climbs, your credit score will begin dropping — long before it reaches the recommended utilization limit of 30% of your available credit.
The common advice is to keep revolving debt below 30% of your available credit so that your utilization rate doesn't hurt your credit score. Yet experts say your FICO score — which most lenders use in their decision-making — starts taking a hit well below that threshold.
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