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Gidgetx1

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help me understand credit scores and utilization %
I have 3 credit cards. 2 have good utilization. 1 has 82% utilization. Would it hurt or help my scores to get another card and transfer 1/2 of the balance from the high utilization card??? HELP 😊

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Utilization tracks how well you are able to manage your debt to credit ratio on your cards.. The higher the balance you carry from month to month (that is closer to your credit limit per card) the more at risk you appear to a potential lender for you to default on something. I would only get  another card if you want to pay off the balance completely. The new card usually offer 0% interest for 6 months, you can use it that way to pay down the balance significantly. Try not to over-extend your budget..

Top Contributor
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Also keeping your utilization around or under 30% of your credit limit will help your scrore increase...

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dont use the rest of the cards only use one card and keep that one cards utilization below 10 %, you can spend more you have to figure out what day it reports to the CB and pay it down below 10% before that day however you do not want balances on other cards that looks bad.. 

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