Should I leave a balance on my credit cards?
Posted by Jo on February 17th, 2013
Most people think that if they carry a balance on their credit cards, that this would improve their credit score. This is very inaccurate and misleading. The reality is, carrying a balance only makes your bank happy – as they charge you interest on your balance.
As far as your score is concerned, if you utilize 33% of your credit limit, your score will be affected dramatically. The higher the utilization of your cards, the lower your score will be.
Category: Questions and Answers