smokester311

1 Contributions 65 People Helped

Member Since: January 2011

Most Helpful Contribution

The Relationship Between Your Credit Score and Credit Card Utilization Rate

Feb 25, 2013
Helpful to 65 out of 89 people

I was at first upset that my utilization grade was a "C" even though I don't use any of my cards and they are all 0 balances.  My only actual debt is my house.  I realized that Credit Card companies don't like people like me because they don't make money.  You won't get a good credit utilization score unless you are GIVING AWAY YOUR MONEY to the credit card company.  I also realized that my overall score is just fine without having a good score on the utilization.  Why should we give our money away just so they will give us a good score?  We've been brainwashed into thinking that our credit score is directly related to our worth as people.  Unfortunately we do need a credit score to buy a house (unless you save for a long time).  But really, is the extra little bump from the credit utilization going to make the difference of being able to qualify for a really good rate on a house?  I think not.

Just my $.02

Activity (1 Total Contributions)

The Relationship Between Your Credit Score and Credit Card Utilization Rate

Feb 25, 2013
Helpful to 65 out of 89 people

I was at first upset that my utilization grade was a "C" even though I don't use any of my cards and they are all 0 balances.  My only actual debt is my house.  I realized that Credit Card companies don't like people like me because they don't make money.  You won't get a good credit utilization score unless you are GIVING AWAY YOUR MONEY to the credit card company.  I also realized that my overall score is just fine without having a good score on the utilization.  Why should we give our money away just so they will give us a good score?  We've been brainwashed into thinking that our credit score is directly related to our worth as people.  Unfortunately we do need a credit score to buy a house (unless you save for a long time).  But really, is the extra little bump from the credit utilization going to make the difference of being able to qualify for a really good rate on a house?  I think not.

Just my $.02