February 27th, 2013
What is the 2nd most important piece of criteria used in improving/increasing your credit score?
What is the 2nd most important piece of criteria used in improving/increasing your credit score?
The second most important piece of criteria used in improving/increasing your credit score is credit utilization. The bank wants you to have way more credit available to you than what you actually use. The bank wants to see that you use less than 30% of the credit that is available to you; Finley suggests using less than 10%.
Primary criteria for credit score is payment history. The next most important is Debt, typically 30% of the score. Debt includes revolving debt (credit cards), installment debt (Mortgage or car loan), Open debt ( AMEX green paid monthly).
The most important is resolving debt utilization. You want a low debt to credit radio.
Katherine was first by two minutes and right again. Key point: Just because the lender wants to give you money (loan) doesn’t mean you should take it. YOU must decide how much credit is right for you and then YOU must handle it wisely. Improving that credit score can save you thousands of dollars when you buy that home in the future and take out a mortgage.
Katherine is right, I recommend 10%. Let’s take a look at an example. Your credit card limit combined (2 cards) is $10,000. Your credit score will improve by keeping how much you normally use of that credit under $3,000 a month (30%). I would encourage you to use under $1,000 a month (10%). Why? Your credit score goes up and you are demonstrating your effectiveness in using credit only as needed. Of course, you will pay that bill off each month because you know paying interest on a credit card is for chumps. Right?
Hmmm not really just that I owe a lot to Smile DongHae it was and will alayws be an unforgettable project to me. I’ll remember it for the rest of my life & I will make sure to return to acting {YES!}Mainly he just lists all his noona’s (of which there are a lot) and sunbae-nim’s, production crew members etc a few people he list Parents (watching at home), his company’s president, Jung Ae Ri (who he actually calls his mom’ because she was his mom in Smile DongHae’, I guess they’re close in real life still =D), all of the Glory Jane cast, Noona’s who I guess are stylists, hairdressers, PR management Just the normal stuff. Bless him ♥
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