Credit Tip Of The Week…Debt Utilization…The Truth…!!
We are constantly asked what is the proper percentage of a balance to keep on credit cards. The most common things that consumers have typically heard is 30%, or sometimes 50%. Which is correct? Is either correct?
Here is the TRUTH:
Keep all credit cards under 10% of the available credit limit, to maximize FICO score. (For even more FICO improvement, try keeping under 10% balance on one credit card ONLY…keep all other credit cards at ZERO.)
Qwest Enterprises, LLC, 2016Share: