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Credit Utilization Explained

Credit utilization is one of the biggest factors affecting your credit score, but many people don’t fully understand how it works. In this video, we break down revolving credit lines, credit limits, and utilization percentages using simple examples so you can see why the percentage you use matters more than the dollar amount. You’ll learn why 10% utilization is ideal, which balances hurt your score the most, and the smartest way to pay down credit cards to start improving your credit. 00:00 Introduction: How Credit Utilization Affects Your Score 00:08 What Is a Credit Card High Credit Limit? 00:30 Understanding Utilization Percentages (10%, 35%, 75%, 100%) 00:48 Simple Math: Calculating Utilization on a $1,000 Limit 01:19 Why High Utilization Hurts Your Credit Score 01:40 Why 10% Utilization Is the Ideal Target 02:21 Why Percentages Matter More Than Dollar Amounts 03:11 Example: Comparing Different Utilization Scenarios 03:40 Which Credit Card Balance Should You Pay Off First? 04:04 Using the Snowball Method to Improve Your Credit Regal Mortgage Team regalmtg.com/our-team Facebook facebook.com/mtgqueendeborahcriddle Instagram instagram.com/regal.mortgage TikTok tiktok.com/@regal.mortgage?_t=ZT-8y8bJd5uKnP&_r=1