26: Balances on bankcards are too high


Bankcard accounts include credit cards and charge cards from a bank and are frequently revolving accounts. They allow you to carry a balance and your monthly payment will vary, based on the amount of your balance. The total combined amount you owe on all your bankcard accounts is high, a sign of increased risk. People who carry balances on multiple bankcard accounts have reduced available credit to use if needed, creating a greater chance of becoming overextended.


Keep low balances on your accounts; this will benefit your score.