Owing a lot of money and having many lines of credit are harmful to your credit score, while making steady payments is beneficial.
Owing a lot of money and having many lines of credit are actions harmful to your credit score. When you owe a significant amount, especially compared to the credit available to you, it can signal you are overextended and at higher risk of default. Additionally, opening multiple credit accounts rapidly can be viewed as a greater risk.
Making steady payments is actually beneficial for your credit score as it reflects a good credit payment history, which is one of the main factors in determining your score.
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