Alejandro M.
• Jul 27
Pay on time is crucial on any bill. Credit utilization to a bare minimum and not too many credit cards. Have some credit cards for a certain thing like one for gas only and another one for groceries and small items.
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So, just a thought guys, (better late than never, right?) when offering someone a credit card offer, maybe highlight the credit utilization thing. Everyone is well aware that money borrowed must be paid back. Thats a given. Im going to embarrass myself right now, which i don't mind, if just one person see's my comment and asks about what credit utilization is BEFORE they get to utilizing their credit. Make no mistake, you are responsible for any money borrowed, or promises made, but for those of you new to the credit game, if you obtain a $1000 credit card limit you can go spend that $1000 but it would not be wise to do so. Why you ask? Because although theyve "given" you a $1000 credit line, its actually a test. Yes, a test, because in reality they only want you to "utilize" 30% of that $1000. Doesn't matter if you pay it off at the end of the month, they still think your sorta irresponsible if you do so...
Hi
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