Governor Gavin Newsom announced on Thursday an agreement that requires all California high school students to take a semester-long personal finance education course starting by the 2027-28 school year.
You can only decrease what you owe on a loan but a credit card is an open line of credit that you can max out at any time. Because of this, the entire credit line counts against you when evaluating your debt. If you have any questions, ask your local bank manager or financial advisor.
EDIT: By the way, most people also believe that only the outstanding balance is counted.
Do you have a source for this? My understanding was only credit card balances mattered.
You can only decrease what you owe on a loan but a credit card is an open line of credit that you can max out at any time. Because of this, the entire credit line counts against you when evaluating your debt. If you have any questions, ask your local bank manager or financial advisor.
EDIT: By the way, most people also believe that only the outstanding balance is counted.