Etiennej7806

1 Contributions 1 People Helped

Member Since: June 2013

Most Helpful Contribution

The Relationship Between Your Credit Score and Credit Card Utilization Rate

Mar 19, 2016
Helpful to 1 out of 1 people

After reading your post, I found a lot of things you wrote that made sense. Especially, having multiple credit cards and to make sure to pay more than the minimum. Another tip I wanted to add to what you said about charging on cc and carry over balance. Believe it or not,  the bank prefers not to have a big balance carryover every month on your credit cards. Having 70% Card utilization is too much.  If you keep a maximum of 10% Card utilization on your cards every month your score will jump significantly. yes paying in bulk and making multiple payments within the month is great but make sure those payments are made before your due that same month  of purchase not after. I've done it and it works. I went from 483 BS to  608 BS within 21 days the next month I had an additional 40 points. I have helped many of my friends and they suggest that I become a credit specialist but I'm not in it to make money. I just like to help people. Mostly all my family members BS are in the 700's. Of course, there are some other factors that you most take into consideration when building credit includes making payments on time, the length of credit history, credit limit, and etc. However, this one considered to have the highest impact on credit. Good luck guys!  

Activity (1 Total Contributions)

The Relationship Between Your Credit Score and Credit Card Utilization Rate

Mar 19, 2016
Helpful to 1 out of 1 people

After reading your post, I found a lot of things you wrote that made sense. Especially, having multiple credit cards and to make sure to pay more than the minimum. Another tip I wanted to add to what you said about charging on cc and carry over balance. Believe it or not,  the bank prefers not to have a big balance carryover every month on your credit cards. Having 70% Card utilization is too much.  If you keep a maximum of 10% Card utilization on your cards every month your score will jump significantly. yes paying in bulk and making multiple payments within the month is great but make sure those payments are made before your due that same month  of purchase not after. I've done it and it works. I went from 483 BS to  608 BS within 21 days the next month I had an additional 40 points. I have helped many of my friends and they suggest that I become a credit specialist but I'm not in it to make money. I just like to help people. Mostly all my family members BS are in the 700's. Of course, there are some other factors that you most take into consideration when building credit includes making payments on time, the length of credit history, credit limit, and etc. However, this one considered to have the highest impact on credit. Good luck guys!