24: Too many bankcards with high balance compared to credit limit


Bankcard accounts include credit cards and charge cards from a bank and are frequently revolving accounts. Revolving accounts allow you to carry a balance and your monthly payment will vary, based on the amount of your balance. You have bankcard or revolving accounts in your credit file with balances that are high compared to the credit limit on the account, which is a proven indicator of increased risk.


Pay down the balances on your accounts. Ideally, the balance on any bankcard account should be 30% or less of the total credit limit on that account.