1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
taurus [48]
3 years ago
8

A general rule of thumb is to keep your credit utilization rate at 30% or lower. What is your approximate credit utilization rat

e for this current billing cycle?
Business
1 answer:
igor_vitrenko [27]3 years ago
5 0

Answer:

30%

Explanation:

Credit utilization can be regarded as the percentage of the total credit that individual is utilizing. It's financially advisable to keep the credit utilization ratio in order to have a good credit score.

To calculate credit utilization rate;

✓ one need to know the information about one credit account.

/✓Then divide the total balance by the total credit limit

✓then multiply by 100

For instance if the total balance is $5000 and total credit limit is $25000 then the credit utilization ratio is ($5000/$25000)×100%

= 20%

Whenever the credit utilization ratio is

higher than 30% it will bring about the decrease of credit score, as a result of this , the lender can be worried because he/she may think the ratio is overextended, and paying back new debt might not be easy.

Therefore, with general rule of thumb is to keep your credit utilization rate at 30% or lower. your approximate credit utilization rate for this current billing cycle is 30%

You might be interested in
An ecosystem generally requires solar energy, nutrients, decomposers, consumers and?
spin [16.1K]

An ecosystem generally requires solar energy, nutrients, decomposers, consumers and producers.

An ecosystem is a community or group of living organisms that live in together and interact with each other in a specific environment. Ecosystems are considered as the foundation of Biosphere which maintains the natural balance of the earth.

An ecosystem requires nutrients, decomposers, consumers and producers. For instance, let's take the relationship between deer and lion in the ecosystem. So, for its survival, the lion eats the deer. Thus, each relationship like this has an effect on other creatures and plants living in the same environment.

Hence, the structure of an ecosystem is related to its species diversity.

To learn more about ecosystem here:

brainly.com/question/13979184

#SPJ4

4 0
2 years ago
Cameron has applied for a loan to expand his young business. When bankers look for evidence of whether he will be able to repay
Readme [11.4K]

Answer:

what Cameron's firm has done in the past.

Explanation:

Small businesses do request for loans in some cases when they aim at using borrowed funds as capital to become more profitable in their business. When such requests are made, the bank can decide to look at what has been done in the past by the firm to ascertain if they can be able to repay the loan. They usually look at the current and past loans (If any) and debts that have been incurred by the business. In some cases, they also examine the bank accounts the business won and their tax IDs, etc.  

3 0
2 years ago
When Coca-Cola creates a website within its website called MyCoke where consumers can create a profile, and exchange thoughts, i
liq [111]
The answer will be virtual community.
8 0
2 years ago
At what percentage of credit card usage, does it start affecting your score in a negative way?​
cluponka [151]

Answer:

3%

Explanation:

ratio of 80 or 90 percent or more highly negative impact on your credit score.

4 0
3 years ago
Jerry is currently insured through AA Auto Insurance, but would like to lower his auto insurance premium by at least $10 per mon
ArbitrLikvidat [17]

Answer:

c. Increase collision deductible to $500.

Explanation:

The adjustment of Increase collision deductible to $500 would allow Jerry to meet his goal.

3 0
3 years ago
Other questions:
  • The mass exodus of more affluent caucasians from urban to suburban areas is sometimes referred to as
    6·1 answer
  • Assuming an upward-sloping AS curve, if an economy is at full employment and consumption spending decreases while all other leve
    5·1 answer
  • Why did laborers sign contracts with an x?
    12·1 answer
  • "Falling oil prices have caused a sharp decrease in the supply of oil." Speaking precisely, and using terms as they are defined
    10·1 answer
  • If monopolistic competitors must expect a process of entry and exit like perfectly competitive firms, Group of answer choices
    5·2 answers
  • A marketing manager instructs his team to make 80 telephone calls to attempt to sell an insurance policy. The random variable in
    14·1 answer
  • Jack just learned that several people in Arizona became ill from the peanut butter that was produced and jarred in his plant. As
    11·1 answer
  • A company is about to begin production of a new product. The manager of the department that will produce one of the components f
    8·1 answer
  • Golden Harvest is a restaurant located inside a five-star hotel. It caters mainly to customers who are concerned about quality d
    12·1 answer
  • A bank has the following balance sheet: SETS RETURN % MILLION $ LIABILITIES COST % MILLION $ Cash 0.00 35 Fixed-rate Deposits 3.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!