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nganne

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new to credit cards
I have a credit card. I want to keep my credit score good. Need advice. I have been using it upto its limit and paying off the the balance amount in time. Is it advisable?

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It doesn't matter how much you use it and using it a lot may help with getting credit line increases down the road from the lender. What is important is the balance that you have when the lender reports your balance to the credit bureaus. You need to figure out what day of the month they typically do this and make sure that you are using no more than 10% of your credit line at that time. If they report your balance to the credit bureaus when you are using over ten percent of the credit line you will be penalized for using too much credit. I advise that you do some serious reading on credit. In order to win the game you need to learn how the game is to be played.

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