Secrets To Maximize Your Credit Score – #1 Credit Cards

Everyone who is credit savvy realize that high balances on their credit cards adversley affect credit scores. Having maxed credit cards can raise your interest rate or even prohibit the purchase or refi of a home mortgage loan. The question is how can you maximize the positive effect credit cards have on your credit report? The solution is simple really. Here’s how:

1. Add up all of the balances on all of your credit cards.
2. Add up all of the credit limits.
3. Divide the balances by the limits.

If the number you get is more than .30 or 30%, your credit score is suffering from having a really high debt ratio.

If the number you get is less than .3 or 30%, you are maximizing the affect credit cards have on your credit score.

Obviously, any ratio below .3 or 30% is also going to make your credit score even better, as having a 0% ratio maximizes your score the most.

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CHEERS !