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The Importance Of Credit Card Debt

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Think your credit card debt can play a role in whether you’re approved for a mortgage or renting an apartment or home? It absolutely can. Mortgage lenders use what they call your “debt to income ratio” to determine how much you’re able to barrow. College students consider this; you are most likely going to have student loan debt coming out of college, add that to the lump sum of credit card debt you may have and divide that by your income right out of college. Are you going to be able to afford a home?
Here are a few points about credit cards that factor into your credit score, which mortgage lenders look at when you apply for a home. Your payment history plays a huge part in your overall credit score. 30% of your credit score roughly is

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