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barrelracer23
Group Title
Can someone help me with this problem please?!!!!!
You have four credit cards. Each has a balance of $450.00, but their credit limits are $800.00, $1,200.00, $1,300.00, and $1,500.00. Paying off and closing which card would decrease your debt ratio? (1 point)
 one year ago
 one year ago
barrelracer23 Group Title
Can someone help me with this problem please?!!!!! You have four credit cards. Each has a balance of $450.00, but their credit limits are $800.00, $1,200.00, $1,300.00, and $1,500.00. Paying off and closing which card would decrease your debt ratio? (1 point)
 one year ago
 one year ago

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barrelracer23 Group TitleBest ResponseYou've already chosen the best response.0
@amistre64 can you help me with this problem please? I dont want the answer, just need help with it.
 one year ago

amistre64 Group TitleBest ResponseYou've already chosen the best response.1
what defines a debt ratio? if memory serves it is balance/debt but i might have that upside down
 one year ago

amistre64 Group TitleBest ResponseYou've already chosen the best response.1
debt/limit
 one year ago

amistre64 Group TitleBest ResponseYou've already chosen the best response.1
is a rule of thumb, the bigger the bottom number, the lower the value; so you want the card with the smallest balance to get the biggest debt ratio owed
 one year ago

barrelracer23 Group TitleBest ResponseYou've already chosen the best response.0
yeah its debt/limit
 one year ago

barrelracer23 Group TitleBest ResponseYou've already chosen the best response.0
So would I want to pay off the card with the largest amount first?
 one year ago

amistre64 Group TitleBest ResponseYou've already chosen the best response.1
"Paying off and closing which card would decrease your debt ratio?" Paying off any of them would decrease your debt ratio. Paying off which one would decrease it the most? the card with the highest debt ratio of course
 one year ago

barrelracer23 Group TitleBest ResponseYou've already chosen the best response.0
Ahhhh... I see, if I just pay it off and dont close it ill still have the same debt ratio right?
 one year ago

amistre64 Group TitleBest ResponseYou've already chosen the best response.1
sounds good to me :)
 one year ago

barrelracer23 Group TitleBest ResponseYou've already chosen the best response.0
Thank you!!:)
 one year ago

amistre64 Group TitleBest ResponseYou've already chosen the best response.1
yep, good luck ;)
 one year ago

barrelracer23 Group TitleBest ResponseYou've already chosen the best response.0
it was the smallest
 one year ago
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