North Carolina cities top list for decreased credit limits
The list from WalletHub outlines the pros (and cons) of the rankings. A study by WalletHub has revealed that North Carolina cities are seeing credit limits decrease the most, with Charlotte falling near the bottom of the list, ranking at No. 74, while Durham, Raleigh, Greensboro, and Winston-Salem also made the top five. The study suggests that if you have lower limits or fewer lines of credit open, a further decrease in your credit limit can make handling your money even harder. This could limit how much you can buy and increase your credit utilization, potentially harming your credit score. However, lower limits might help improve the way you handle credit, as long as possible, reducing debt and saving money. WCNC Charlotte's Where's The Money series aims to help people in the Carolinas by helping others and breaking down barriers.
Publicerad : 2 veckor sedan förbi Kia Murray i Finance
The list from WalletHub outlines the pros (and cons) of the rankings.
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Example video title will go here for this video
This time, WalletHub researchers are looking at which metros are seeing credit limits decrease the most.
Charlotte fell near the bottom in the list of 100 cities, coming in at No. 74.
Meanwhile, Durham falls on the opposite side of the list, coming in at No. 5. Raleigh is slightly behind at No. 11, Greensboro is at No. 14, and Winston-Salem is at No. 33.
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing [email protected].
Usually, these rankings have a clear indicator between which scores are positive and negative, but here's the issue this time: If you have lower limits or fewer lines of credit open, a further decrease in your credit limit can make handling your money even harder. That's by limiting how much you can buy and increasing your credit utilization.
Keep in mind, the more credit you are using, the more you could hurt your credit score.
On the other side, lower limits might help you improve the way you handle credit. If you put less on those cards, you pay back less in debt.
WCNC Charlotte's Where's The Money series is all about leveling the playing field in the Carolinas by helping others and breaking down barriers. WCNC Charlotte doesn't want our viewers to be taken advantage of, so we’re here to help. Watch previous stories where we ask the question “Where’s the Money” in the YouTube playlist below and subscribe to get updated when new videos are uploaded.