35: Your highest bankcard or revolving account balance is too high


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 a bankcard or revolving account in your credit file with a high balance, a sign of increased risk. People who carry balances on bankcards or other revolving accounts have reduced available credit to use if needed, creating a greater chance of becoming overextended.


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