2021-2024 Form

Instructions and help about R6140 823Credit Utilization Form Pursuant To Th

credit utilization plays a huge role in your credit score if you're not using these strategies then your score is not as high as it should be what's up winners my name is nam if you're new here welcome here we talk all things personal finance and credit start now by subscribing so you don't miss out on any future videos so in today's video we're going to do a deep dive on credit utilization and by the end of all this you'll know how this piece of the credit game works first things first let's go over what exactly is credit utilization this is just a formal name but essentially what credit utilization is is the amount of money that you owe on your credit cards and credit utilization is usually written as a percentage a general rule of thumb is to keep it 30 or lower across your credit cards and across all of your credit cards altogether so the higher that you keep your balances in the lender's eyes will make it look like you are a riskier borrower because the higher the balances that yo