One of the biggest myths regarding credit is that simply because you pay your bills on time, you are maximizing your credit score.
YES, paying on time and especially when paying in full is really good for your credit score, but something many people don't take into consideration is when there balances or utilization factors are high on the reporting date which will cause their scores to drop.
Even if you pay on time and or in full, remember Utilization accounts for 30% of your score and can cost you over 100 points if your utilization factor is maxed out.
Make sure to look and see what your reporting date is and pay your balances down to AT LEAST 9% a day or two before reporting date. Then your statement balance will be significantly lower and much easier to pay in full.
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