What is a good debt to credit ratio?
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What is a good debt to credit ratio?
| Sun, 06-14-2009 - 6:53am |
I just pulled comprehensive credit report and am wondering what the rule of thumb is for an acceptable debt to credit ratio.
TIA,
Robyn

30% of your cards limit. 40% at the most.
Mary Ann
This is a good guideline to have - definitely means we have work ahead of us in paying things down.
What is a good debt to income ratio? This is what my bank said mattered if we were looking to refinance. I have a call into them to see what they would consider a good ratio but wanted to check here too.
Thanks for the info.