If you’re trying to improve your credit score, then you need to pay attention to your credit utilization – or, in other words, how much available credit you have at any given time. And it’s important to remember that you should not exceed 30% credit utilization ratio.
So, if you don’t want your credit score to be negatively impacted, here are two simple steps you can take:
- Get Balance alerts: You can sign up with you credit card issuer to receive balance alerts, sent by text or email, so that you don’t exceed 30% credit utilization.
- Pay Twice a Month: If you can afford to, pay your balance twice each month to keep down your utilization rate.
RentReporters is helping renters build and improve their credit scores by reporting their on time rent payments to TransUnion.
For more information on RentReporters, visit here.