Getting credit utilization under control will make you more appealing to lenders
News from Chicago Tribune:

Q: I’ve racked up $ 9,000 in debt on a $ 10,000 line of credit, but I can pay it off at any time.

I’m planning on moving this year and will need to finance my house purchase. I’m thinking that if I pay off the debt, the credit card company will lower my line of credit and I’ll take a big hit to my credit score. Should I contact the credit card company, or would contacting them raise a red flag and cause them to reduce my line of credit anyway.

  • Ilyce Glink & Samuel Tamkin

Should I strategically start to pay down the debt significantly as I’m looking for financing? When would the payoff be reflected…………… continues on Chicago Tribune

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