Comments on: Utilization: Maintaining The Right Credit Balance to Limit Ratio http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/ Your Daily Guide To Better Credit Sat, 21 Apr 2012 21:58:25 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ben http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-415 Ben Sun, 18 Sep 2011 15:05:25 +0000 http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-415 "Does this count if I pay it off every month? Like if I have a balance of $800 on a card with a $2000 credit limit and I pay it off at the end of the month." Most likely yes, because your credit card company will report your statement balance to the credit agencies. So either a) get your credit limit raised to an amount that would allow you to charge less than 25% of the limit every month, or b) pay off the balance BEFORE the statement date. Chances are, if you have good credit and you are responsible enough to pay off your balance every month, your credit card company won't have a problem raising your limit (and some may do it automatically). “Does this count if I pay it off every month? Like if I have a balance of $800 on a card with a $2000 credit limit and I pay it off at the end of the month.”

Most likely yes, because your credit card company will report your statement balance to the credit agencies. So either a) get your credit limit raised to an amount that would allow you to charge less than 25% of the limit every month, or b) pay off the balance BEFORE the statement date. Chances are, if you have good credit and you are responsible enough to pay off your balance every month, your credit card company won’t have a problem raising your limit (and some may do it automatically).

]]> By: masaż bielsko http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-97 masaż bielsko Thu, 09 Jun 2011 20:30:25 +0000 http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-97 Does this count if I pay it off every month? Like if I have a balance of $800 on a card with a $2000 credit limit and I pay it off at the end of the month. Does this count if I pay it off every month? Like if I have a balance of $800 on a card with a $2000 credit limit and I pay it off at the end of the month.

]]> By: The Mentat · Credit – Never Use It All http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-96 The Mentat · Credit – Never Use It All Wed, 03 Feb 2010 02:45:51 +0000 http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-96 [...] full article can be found here.  Read and learn more about controlling your [...] [...] full article can be found here.  Read and learn more about controlling your [...]

]]> By: jOHN http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-95 jOHN Mon, 01 Jun 2009 04:07:45 +0000 http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-95 Here is the bottom line, establishing good credit means being a LOW risk. If you max out your credit cards each month, you are showing a dependency on credit! You must prove that you control the card not the other way around. Utilization is just a way for creditors to assess risk and generally staying at or below 30% of your limit is good enough. This is the first time I have heard the 25% rule. Good luck out there! Here is the bottom line, establishing good credit means being a LOW risk. If you max out your credit cards each month, you are showing a dependency on credit! You must prove that you control the card not the other way around. Utilization is just a way for creditors to assess risk and generally staying at or below 30% of your limit is good enough. This is the first time I have heard the 25% rule. Good luck out there!

]]> By: EpicTrendz » Blog Archive » Keep Credit Cards Under 25 Percent of Their Limits [Credit Cards] http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-94 EpicTrendz » Blog Archive » Keep Credit Cards Under 25 Percent of Their Limits [Credit Cards] Fri, 22 May 2009 04:35:18 +0000 http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-94 [...] a trusted system for reigning in credit limits across your wallet? Tell us how in the comments. Utilization: Maintaining The Right Credit Balance to Limit Ratio [The Better Credit Blog via [...] [...] a trusted system for reigning in credit limits across your wallet? Tell us how in the comments. Utilization: Maintaining The Right Credit Balance to Limit Ratio [The Better Credit Blog via [...]

]]> By: Mark Fleser http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-93 Mark Fleser Fri, 01 May 2009 22:58:59 +0000 http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-93 Does this count if I pay it off every month? Like if I have a balance of $800 on a card with a $2000 credit limit and I pay it off at the end of the month. Another thought is if I have a statement balance of $400 on that same card but after the statement is posted and I spend another $400 or $500 but pay it all off before the next statement is posted. What is this doing to my credit rating? Does this count if I pay it off every month? Like if I have a balance of $800 on a card with a $2000 credit limit and I pay it off at the end of the month. Another thought is if I have a statement balance of $400 on that same card but after the statement is posted and I spend another $400 or $500 but pay it all off before the next statement is posted. What is this doing to my credit rating?

]]> By: P http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-92 P Fri, 01 May 2009 14:00:32 +0000 http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-92 Why is $0 balance = 100% utilization? Why is $0 balance = 100% utilization?

]]> By: Lenny http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-91 Lenny Thu, 30 Apr 2009 21:58:51 +0000 http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-91 Wow, just realized this was posted in 2007, just saw the article linked on Consumerist and Lifehacker though Wow, just realized this was posted in 2007, just saw the article linked on Consumerist and Lifehacker though

]]> By: Lenny http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-90 Lenny Thu, 30 Apr 2009 21:58:06 +0000 http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-90 Sorry if I'm dense, but do you mean to say if I ever use more than 25% of my limit (even though I pay off the balance every due date) my credit score is adversely affected? Sorry if I’m dense, but do you mean to say if I ever use more than 25% of my limit (even though I pay off the balance every due date) my credit score is adversely affected?

]]> By: The Far Edge » Blog Archive » Keep Credit Cards Under 25 Percent of Their Limits [Credit Cards] http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-89 The Far Edge » Blog Archive » Keep Credit Cards Under 25 Percent of Their Limits [Credit Cards] Thu, 30 Apr 2009 21:18:04 +0000 http://bettercreditblog.org/2007/11/29/utilization-maintaining-the-right-credit-balance-to-limit-ratio/#comment-89 [...] a trusted system for reigning in credit limits across your wallet? Tell us how in the comments. Utilization: Maintaining The Right Credit Balance to Limit Ratio [The Better Credit Blog via [...] [...] a trusted system for reigning in credit limits across your wallet? Tell us how in the comments. Utilization: Maintaining The Right Credit Balance to Limit Ratio [The Better Credit Blog via [...]

]]>