Keeping Your Credit Card Usage Below This Percentage is Key
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Keep your usage rate at 30% or below. For example, if you have a credit card with a $1,000.00 limit, you should not make more than $300.00 worth of purchases on that credit card.
What else you should know
- Your credit card utilization has a direct impact on your credit score.
- We all know that life comes at us fast, and sometimes credit cards are our only lifeline. However, if at all possible, try to keep your usage rate below 30% because if you go over, it will play a factor in lowering your credit score.