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A credit balance is the amount of credit you have used on your card, including charges made, balances transferred, and cash advances (like ATM withdrawals). Credits paid in installments are also a factor in your credit utilization ratio, which is calculated by dividing the amount of credit you use by your total available credit.
Your Credit Balance amount changes monthly based on how you use your card.
Here are a few reasons for a change in balance:
You will receive this alert if your balance increases by a significant dollar amount compared to the previous balance.
This alert is based on the issuer reporting the balance to the bureau; hence, it might not be the latest information on the account.
This alert is not about credit limit changes but shifts in how much credit is used.
The best approach to managing your credit effectively is to pay your balance off in full. A zero balance helps avoid the interest charges associated with maintaining a balance. If you have no other option, try paying more than the minimum monthly payment. This takes off more of the balance which accumulates less interest that you will owe to the card issuer.
Some balance changes such as temporary authorizations might be short-term and will revert once finalized.
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