What is a good debt to credit ratio?

iVillage Member
Registered: 04-12-2007
What is a good debt to credit ratio?
3
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


iVillage Member
Registered: 11-17-2007
Sun, 06-14-2009 - 7:33am

30% of your cards limit. 40% at the most.


Mary Ann

iVillage Member
Registered: 06-25-2006
Sun, 06-14-2009 - 11:54am

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.

iVillage Member
Registered: 04-12-2007
Sun, 06-14-2009 - 1:11pm

Thanks for the info.