merlinator

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Member Since: March 2012

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Credit card utilization and your credit score

Jun 15, 2015

In response to expatbrit,

They don't "rip us off with interest charges". You're using their money and there's a cost for doing so. They're actually very generous in that they do so for free for over 20 days. I have 9 cards I use for various rewards. Some very little. Some a lot.  I use the statement closing date as the due date and pay via their website. I have a small balance showing on one or two with little to no interest promotions or about 3% across all of my total credit lines. My CK Vantage scores are both 817 and the worst of my three FICO 8 scores is in the 830's. It takes very little effort to maintain my finances and I got the best mortgage rate available at the time because of it (3.375 @ 30 yrs). That a good reason to have a great score. It saves me hundreds every month. I'm no different than the majority of people in this country financially.  And like you, I don't fret over debt and I try to live within my means.