Expert: Keep your card balance below 30% of limit
Preferably, keep it lower than 30 percent.
If your card limit is
He recommends charging no more than
When it comes to credit scores, the most important determining factor is payment history, Leach said. But the second is amount owed, a fact that surprises many consumers, he said.
Too much charging, even if you're way below your limit, can lower your score. For example, Leach said a person with a top-notch credit score of 830 on
A report by
Credit scores are important to everyone. A bad score not only means less access to credit or higher interest costs, it can affect an individual in surprising ways, such as higher auto insurance premiums, Leach said.
___
(c)2017 the Sun Journal (Lewiston, Maine)
Visit the Sun Journal (Lewiston, Maine) at www.sunjournal.com
Distributed by Tribune Content Agency, LLC.
Costly Storm Season Could Drive Florida Insurance Rates Higher
Reverse mortgages: Evict woman, 92, over 27¢? Why some see a crisis
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News