Understand Credit Card Utilization to INCREASE YOUR CREDIT SCORE 📈✅#creditutilization

Starr Carter
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In today’s video, I talk about credit card utilization and the steps you need to take if yours is too high. Credit utilization is a key factor in building your credit because it counts for 30% that equals 165 points of your credit score.

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6 Comments

  1. Very good information! Love the breakdown

  2. Thank you for the info! I’m working on it!

  3. Utilization is over simplified by most people. The overall category is worth 30%, but that being said it's actually more complex than the simple fraction used creditavailable credit on the revolving side. It's also some people have too many cards reporting at the same time & that makes a difference. Some have no cards reporting & that makes a difference. What role does the installment side of our reports play? What happens when someone sits in a store & takes the furniture store's line of credit & uses 90% of it & they let it report that way? That's also utilization & it will likely tank your score. What about normal loans (home, auto, personal, pledge, whatever) that have varying percentages still due? The installment side is weighed differently, but all of that is also still utilization. The algorithm is complex & afffects all of us differently.

  4. Really doesn't matter unless you're planning on applying for a financial product.

  5. I cannot get capital one to give me a credit line increase. Both of my cards have 0 balance. My credit score is 715 To 720 . All other cards give me a credit limit increase when I request it but capital one will not and I’ve been when them over 20 years. The last credit limit increase from them was about 6 or 7 years ago.

  6. Hi Starr… great information as usual ❤❤

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