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oleurud wrote:I would have to respectfully disagree........without going into my personal finances I can say without a doubt that holding down your balances over the long haul will have a positive effect on your score..abet not substanial but an impact just the same.......example : I carried 5 % balances on my cards for 10 months and my score rocketed and not only that my card company tripled my CL and lowered and fixed my APR to a very low rate. I then proceeded to use 90% of my card balances and my score plummeted....I then paid my cards off down to 15% UT and low and behold a small increase in score not close to what it was before. Also when appling for a morgage most loanees will physically look into your CR.....keep UT's low for optimal scores
This is exactly my point. When you had 5% util, whenever you checked your scores during that 10-month period, your score was high. When you maxed the cards, every time your checked your scores they were low. It didn't matter that you had 5% util before. You paid it down, and now they've gone up. The scores will always reflect the current util.
oleurud wrote:If you are not applying for a mortgage until early next year, it doesn't matter how much of your CLs you use in July, August, Sept, etc. (provided you pay on time, of course). You don't get any points for low "historical" utilization -- it only counts at the time your score is pulled.I would have to respectfully disagree........without going into my personal finances I can say without a doubt that holding down your balances over the long haul will have a positive effect on your score..abet not substanial but an impact just the same.......example : I carried 5 % balances on my cards for 10 months and my score rocketed and not only that my card company tripled my CL and lowered and fixed my APR to a very low rate. I then proceeded to use 90% of my card balances and my score plummeted....I then paid my cards off down to 15% UT and low and behold a small increase in score not close to what it was before. Also when appling for a morgage most loanees will physically look into your CR.....keep UT's low for optimal scores