3 ms·
You are supposed to be ok as long as you don’t use more then 30%.
by zxcvbn4038 4y ago
You are supposed to be ok as long as you don’t use more then 30%.
- s1artibartfast 4y agoThat's not my understanding.[1,2] Utilization under 30% still hurts your score. Utilization % and type of credit utilized account for 40% of your score [3]. Given the big transient swings timed to match exactly with your utilization, this is all that could imagine is going on. Seems like an zero cost solution you could try. If you have a decent job, it is pretty easy to get large amounts of credit up to a couple hundred k. The average person with an 800+ score has <5% utilization, so aim for that when you run a balance. >https://www.nerdwallet.com/article/finance/30-percent-ideal-credit-utilization-ratio-rule https://www.nerdwallet.com/article/finance/30-percent-ideal-.... >https://wallethub.com/answers/cc/best-credit-utilization-ratio-2140666075/ https://wallethub.com/answers/cc/best-credit-utilization-rat... >https://www.investopedia.com/financial-edge/1111/what-credit-score-should-you-have.aspx https://www.investopedia.com/financial-edge/1111/what-credit...
- positr0n 4y ago> Utilization under 30% still hurts your score I don't think this is right, and your first supporting link directly refutes that in the second sentence.
- s1artibartfast 4y agohow so? seems clearly the opposite to me. >Many credit experts say you should keep your credit utilization ratio — the percentage of your total credit that you use — below 30% to maintain a good or excellent credit score. Credit utilization is a major factor in your credit score, so it pays to keep an eye on it. View the 30% rule as a good guideline, but be aware that using even less is better for your score.
- positr0n 4y agoYes using less is better. That's what I'm saying.