Credit Card Utilization Can Change Your Score Fast
Credit utilization is the amount of your available credit that you are currently using.
Example:
Your credit card limit is $1,000.
Your reported balance is $800.
You are using 80% of your available credit.
That high balance may hurt your score, even when you make every payment on time.
Try to keep your total utilization below 30%.
For stronger results, many people aim to report below 10%.
Remember, your current balance and your reported balance may be different. Most card companies report around the statement closing date, not the payment due date.
Today’s action step: Divide your balance by your limit.
Example:
$300 balance ÷ $1,000 limit = 30% utilization.
Inside the paid community, members receive a step by step utilization plan and payment calendar.
Comment your utilization percentage below.
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Credit Card Utilization Can Change Your Score Fast
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