“Understanding Your Credit Cards”

Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

“Understanding Your Credit Cards”




Hi Joe,

Does my credit usage need to be below 70% or below 30% ideally? I want to do everything humanly possible to get my credit scores higher, so that when I am ready to buy a home this coming spring, I am completely ready and can get the best possible interest rate.  Is it overall credit usage or per credit card/loan?

Thanks to you my parents are teaching me what you taught them.


The simple answer is as follows: If you keep your credit card balances below 30% of your high credit limit your credit scores can move upward at the highest possible level. So, if your high credit limit is $1000, your balance should not be above $300.


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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Sham Reddy
H E R Realty, Dayton, OH - Dayton, OH

While its a great suggestion, doing it in real life is alomost impossible!!!

If you keep your credit card balances below 30% of your high credit limit your credit scores can move upward at the highest possible level. So, if your high credit limit is $1000, your balance should not be above $300.

Dec 15, 2017 03:43 AM #1
Joyce Marsh, Daytona Beach Florida
Premier Sotheby's International Realty - Daytona Beach, FL
Two Decades Of Experience Selling Luxury Homes...

Good information to share. Credit scores are so important, we need to be vigilant and keep a watchful eye on factors that can change your credit score. Monitor regularly and pay before due date. 

Dec 15, 2017 04:10 AM #2
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Joe. Thanks for the information. Enjoy your day!

Dec 15, 2017 04:32 AM #3
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

We stay at zero on our cards because we do not like paying interest at the rates they have. Mortgages are fine though.

Dec 15, 2017 07:39 AM #4
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Joe - that is a nice easy explanation that everyone can understand. 

Dec 15, 2017 10:29 AM #5
Dusty Rhoton SRS, MRES, ABR, SRES, GRI
RE/MAX Fine Properties - Flagstaff, AZ
Flagstaff Real Estate

I agree with Joe Pryor, pay them off every month and avoid the interest!

Jan 02, 2018 05:48 PM #6
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Joe Petrowsky

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