The Loan & Credit Grandmaster

The video explains one of the most powerful ways to improve your

credit scores is to keep your credit utilization between 9% & 29%.

You don't want it to go above 29 nor below 9, ideally.

For example: If you have a credit card with a $3,000 credit limit,

try to keep your balance between $270 & $870.

Do this among all your credit cards, and you'll see a higher score on the next cycle that bureaus follow on updating scores.

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 Of course, other more obvious ways are paying on time, paying

more than your minimum payment, not closing any accounts,

and if you are an authorized user on someone else's account, and they are doing poorly in these areas, asked to be removed.

 

 Keeping your balance at zero is not ideal, either, as credit card companies issue you cards so you use them, so they make money. If you go too long without using a card, they may cut the limit, or close it entirely, hurting your score, by lowering your overall credit limit among all your cards. 

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Watch YouTube for more "Loan & Credit Granmaster" videos,

on credit, loans, and secret tips!

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Watch Episode #1 here: