IF YOU HAVE CREDIT CARDSTHIS IS VERY INTERESTINGAND MAY HELP YOU
Credit cards can be wonderful tools if you know how to use them to your advantage. For example, you should use th... moreIF YOU HAVE CREDIT CARDSTHIS IS VERY INTERESTINGAND MAY HELP YOU
Credit cards can be wonderful tools if you know how to use them to your advantage. For example, you should use them in a way that helps boost your credit scores—which will, in turn, help you qualify for the best cards with the best perks and rewards.
One key thing to keep in mind while using your credit cards is to make sure you're not using too much of your own credit. If you do, you'll end up with a higher credit utilization ratio, which can pull your credit scores down.
In general, the less of your available credit you're using, the better: Aim to use no more than 30% of the credit available to you. For the best credit scores, keep it under 10%, but above zero.
How Do I Calculate My Credit Utilization Ratio?
Your credit utilization ratio is calculated by adding all your credit card balances at any given time and dividing that by your total credit limit. For example, if you typically charge about $2,000 each month... less
