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How much credit should you use?

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How much credit should you use?

Credit cards can be wonderful tools if you know how to use them to your advantage. For example, you should use them in a way that helps boost your credit scores—which will, in turn, help you qualify for the best cards with the best perks and rewards.

One key thing to keep in mind while using your credit cards is to make sure you're not using too much of your own credit. If you do, you'll end up with a higher credit utilization ratio, which can pull your credit scores down.

In general, the less of your available credit you're using, the better: Aim to use no more than 30% of the credit available to you. For the best credit scores, keep it under 10%, but above zero.

 

Have more questions about credit and home ownership? Contact us today! 

 

 


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