![]() Paying your balance in full every billing cycle can help you pay less in interest than if you carry over your balance month after month. When you carry a balance from month to month on your credit card, your card issuer will likely charge you interest. And about 30% is based on this ratio.Īccording to the Consumer Financial Protection Bureau (CFPB), experts recommend keeping your credit utilization below 30% of your available credit. In fact, FICO® is pretty specific about what it views as the most important credit factors. This can mean a boost to your credit scores. And that means your credit utilization will be lower, as well. ![]()
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