Your VantageScore reason code report

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29: Balances on bankcards are too high compared with credit limits

Explanation:

Bankcard accounts include credit cards and charge cards from a bank and are frequently revolving accounts. They allow you to carry a balance and your monthly payment will vary, based on the amount of your balance. The balances on your bankcard accounts are high compared to the credit limit, lowering your score.

What you can do:

Pay down the balances on your accounts. Ideally, the balance on any bankcard account should be 30% or less of the total credit limit on that account.
 

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