How Much Credit Card Debt Should I Carry to Not Harm My Credit Score?

How Much Credit Card Debt Should We Carry to Not Harm Our Credit Score

Question: Dear Steve, I have three credit card accounts, all with Citibank. Two of them are closed. The one open account has a credit limit of $1700. I am just $140 below the limit on it. The other two are at about 40% or less. I am getting dinged on my FICO score as they … Read more

Keep Your Credit Utilization Under 30% For the Best Credit Score

This excerpt helps to explain why it’s best to keep your credit card balances low, even if you have to spread them over a larger pool of cards. The lesson to be learned from the credit scoring and credit bureaus themselves, keep your balances lower than 30% — “You don’t need a lot of credit … Read more