| Will using my credit card more often boost my credit rating? |
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gogaia
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 19 Aug 2005
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| Will using my credit card more often boost my credit rating? |
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I have two low balance unsecured credit cards following a personal bankruptcy after 9/11 here in NYC. I'm inclined to just use them several times a year, pay them off in full on time and put them away!! I have heard, however, that it would benefit me to use those cards monthly and pay them off monthly in order to build a stronger credit rating. Is there any truth to this?
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Fri Aug 19, 2005 5:12 pm |
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Ellis
Member
Cash: $ 3.00
Posts: 15
Joined: 23 Aug 2005
Location: Washington State
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From my understanding, It dosent matter how many transaction you do on your credit card. what matters is that you do use it monthly and pay it off.
Also you should stick below 30% of what ever you credit line is, otherwise, lenders, credit companies, etc look at you as being too dependent on your credit card.
There is one benefit to using creditcards for most stuff however. Good credit cards have bonus features such as air miles or cash back rewards etc.
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Sun Aug 28, 2005 7:03 am |
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