https://www.financeglobe.com/post/what-to-do-if-your-credit-card-is-maxed-out/ Personal Finance Tips & Tools Thu, 30 May 2019 14:06:59 +0000 hourly 1 https://wordpress.org/?v=6.9 https://www.financeglobe.com/post/what-to-do-if-your-credit-card-is-maxed-out/#comment-688 Thu, 30 May 2019 14:06:59 +0000 https://www.financeglobe.com/tools/2019/03/29/what-to-do-if-your-credit-card-is-maxed-out/#comment-688 If you have maxed out of your credit cards, you should seek financial assistance or professional help to begin tackling your debt. I hate to see people in that position.

]]> https://www.financeglobe.com/post/what-to-do-if-your-credit-card-is-maxed-out/#comment-687 Sun, 07 Apr 2019 10:02:39 +0000 https://www.financeglobe.com/tools/2019/03/29/what-to-do-if-your-credit-card-is-maxed-out/#comment-687 Scary thing about maxing credit cards is when your balance shows up at the credit bureaus and the other creditors that monitor your activities start balance chasing you or closing your accounts(s). You are considered “high risk” and they will treat you that way. Reading the article you might say, hey you gave me the credit limit to use! Yet, even if I can pay the balance right now you want to close me down? There are reported many schools of thought on what your real utilization rate should be by credit card and across all of your cards. The magic number that appears most often is to stay under 30% utilization. Further, it is reported that to maximize your credit scores stay under 9%. The article is a great reminder to pay attention to what you spend and work at keeping your debt under control. For the people with very small credit limits, it is really hard to maintain spending and use the credit limit so it can be a challenge for sure!

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