Part 1: Grasping Debt and Credit Utilization In the opening segment, we dissect the core concepts of debt and credit utilization. Credit utilization signifies the ratio of your credit card balances to their respective credit limits. A lower credit utilization rate can boost your credit score, one of the essential metrics for financial wellbeing. Did
To illustrate, consider two case studies, ‘Case Study: Revolving Debt’ and ‘Case Study: Installment Debt.’ Through these real-life scenarios, you’ll learn how both types of debts can impact credit scores. Case Study: Revolving Debt – “The Balancing Act of Credit Cards” Overview Meet John. He is a freelance graphic designer who uses his credit card
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