Kudos to Consumerist for making the following correction to its article, "3 Ways You Could Be Hurting Your Credit Score Even If You Pay Your Bills On Time", that, in its original form, promoted the 30% util myth:
If that ratio goes higher than 30%, it’s negatively impacting your score. So someone with $1,000 in debt and $10,000 in credit isn’t hurting themselves, but if that same person only has $3,000 in credit, their credit score is worse for it.
[CORRECTION: We did not mean to imply in the above paragraph that a 30% ratio is a definitive dividing line between improving or harming your credit score. The goal should always be to have the lowest debt-to-credit ratio.]
http://consumerist.com/2015/03/03/3-ways-you-could-be-hurting-your-credit-score-even-if-you-pay-your...
