UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308369  
Subject: Re: Building Consumer Credit Date: 4/24/2013 9:25 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 2
Is it bad for your credit score to maintain large balances on your credit cards, even though paid on time, rather than paying smaller, more frequent amounts?

As long as you pay on time, and your lender allows you to make payments as often as you want to make them, from a credit score perspective, it doesn't matter how many payments you make throughout the month. What is more important to your credit score is: What is the balance on your card, compared to the amount of credit you have available? If you are aiming to get the best credit score, you should never use more than 10% of your available credit. So if your available credit on one card is $4,000, you should never let the balance on that card get above $400.

AJ
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement