credit myths: Top 10 Credit Myths
- 07/31/17 01:00 PM
Myth #1: “Balances below 30% of credit card limits will result in the highest scores.” False. Ideally you want to keep your balances as low as possible but if you are going to apply for a mortgage having your balances (on revolving credit cards) under 10% of the aggregate limits will allow you to achieve the best credit scores that the “revolving credit” category can offer. It is important to note that once you pay them down you should wait until the 7th of the following month to make an application for new credit since balances usually update on credit at the beginning … (2 comments)
Myth #1: “Balances below 30% of credit card limits will result in the highest scores.”
;)
;)
