Your Best Interest
When it comes to debt, people give themselves credit — lots and lots of credit. At the end of 2007, Americans owed $941.1 billion in credit-card debt. Successfully managing credit is crucial, but there are some arcane credit-card rules that may affect your balance, your interest rate, and even your credit score. The more you use, the more you lose: Your credit score is based in part on how much credit-card debt you have in relation to your credit limit. Experts recommend using no more than 10% of your available credit. Over 50% could actually reduce your credit score.…