I read a great blog today where I learned something new about your credit score & how to get the best score. So that I don’t plagiarize I’m going to include a link to the blog, but it boils down to this… It’s more than just having open credit on your credit cards and paying your bills on time. Only 35% of your credit score is based off of on time bill payment. Your credit score is based 30% on how much each card is maxed. You don’t want any one credit card to have more than 30% of its total amount used.
Check out Ardell’s blog on this for the full story. http://www.raincityguide.com/2007/06/28/fico-algorithm-says-dont-consolidate/
3 responses so far ↓
Ardell DellaLoggia // June 28, 2007 at 8:06 pm |
Hi Jenn,
Thanks for spreading that chart around. This is something consumers really need to know! I hate the fact that it is true, but really important for people to “get”.
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