You want to raise your credit score so you can get lower credit card interest rates, easier credit, even better job prospects? You need to understand “credit utilization.” It’s a simple ratio of how much credit you have versus how much you use, and it can make up to 20-30% of your credit score.
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Extra Credit provides general information to help improve our Member’s financial lives. Every situation is different, so please contact us for guidance on your specific needs. The advice provided in Extra Credit is not intended to serve as a substitute for speaking to a loan representative, financial advisor, or BALANCE counselor who can help tailor a solution for you.
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