Insider Tips From A Credit Expert on Best Use of Credit Crads

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Mortgage and Lending with Jumbo,FHA,VA,RD,Jumbo,FHA,VA,RD,FHA

We are frequently asked how customers can maximize their credit scores while using credit cards. 

Here are some a few rules of thumb:

Charge less than 30% of the credit limit

Credit cards only report once a month and will report depending on when a billing cycle ends

Carrying a balance and paying interest will not increase a score

You only need to charge $1.00 per month to generate credit reporting activity

 

Tara Talbot

 

Comments (1)

Indera Coggins
Re/Max 100 - Dunkirk, MD

Tara, this is great information. Right now, my client is awaiting his credit card to cycle because he needed a second score in order to purchase thru the Rural Development.

Thanks and have a great day!

Feb 02, 2011 07:28 AM