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30% of your credit score comes from your debt measurements, and...
30% of your credit score comes from your debt measurements, and your "credit utilization rate" is a big factor in this category. Ozzie has a Visa with a $2000 limit and a balance of $450; a store credit card with a $500 limit and a $200 balance; and a joi
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Question
Answered step-by-step
Asked by DeaconWillpower9825
30% of your credit score comes from your debt measurements, and...
30% of your credit score comes from your debt measurements, and your "credit utilization rate" is a big factor in this category. Ozzie has a Visa with a $2000 limit and a balance of $450; a store credit card with a $500 limit and a $200 balance; and a joint card with his mom with a $5000 limit and a $700 balance.
- What's Ozzie's credit utilization on:
a. His Visa?
b. His store credit card?
c. The joint card with his mom?
- What's Ozzie's overall (sum of all 3) credit utilization?
- Ozzie works extra hours one week and receives an extra $75 in his paycheck. Which debt should he put that money toward? Why?
MathApplied MathematicsMATH M6129A
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