Q&A: credit cards, what percentage of credit to use to improve credit score?
Sunday, November 20th, 2011 at
12:13 am
Question by Mic Y: credit cards, what percentage of credit to use to improve credit score?
i’ve heard 50% is a good max, in order to boost credit score; what about 30%, 25%? does it boost even higher, or is it just anything below 50% is about the same, and over 50% is bad?
Best answer:
Answer by mes78
Just remember that whatever you leave as a monthly balance hurts your debt/income ratio
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Tagged with: Cards • Credit • Improve • percentage • Score
Filed under: Credit Score
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How about NO credit at all. Pay off your debts, dont make new ones and you will have a perfect credit score. Thats what we did. It took us a while but it has been worth it.
Twenty to thirty percent is recommended, as long as you pay off your debt EACH MONTH.
Every sixth months, you should attempt to raise your credit limit by ten percent.
Ideally you should use no more than 20% of your availiable credit. If you use any more than this you will see your credit score start to drop. Using 50% of your credit is bad…
I think it is funny how a company will give your credit but then they will look down at you you when you use it all.. Ironic isnt it?
Any ways look at this article on factors that will raise your credit score http://www.creditfamily.com/articles/improve-your-credit-score.htm
Good Luck!