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I've always thought it was a little ironic that increasing your credit score is done by getting more credit line than you need then not actually using it (reduc
by tedmiston 9y ago
I've always thought it was a little ironic that increasing your credit score is done by getting more credit line than you need then not actually using it (reducing the percentage of your credit line that you do use assuming expenses are fixed).
- Drdrdrq 9y agoThis is because credit score is a measure of two things. The first one is obvious - that you are capable of paying your debt if you find yourself in it. The second one however is how valuable you are to the banks. What good are you to them if you never borrow more money than you need? Their best customer is always in debt but regularly making payments (with interests of course).