does credit card debt affect credit score?
Hi,
Yes, credit card debt definitely affects your credit score. I recently applied for a credit card and experienced how it affected my credit score. Credit score basically depends on your credit history, on-time payment, amount owed, etc. When you use more credit or do not pay the credit card bill on time for a long time your credit score drops. When you keep your credit usage under 30% and make timely payments improving your credit history it impacts credit score positively and improves your credit score. Credit score depends how much credit is used from the credit available and timely payments history. It is good to keep credit usage below 30% if the available credit and make payments on time. So, credit card debt can hurt your credit score if not managed carefully.