• credit utilization and why it matters
    Finance

    What is Credit Utilization and Why It Matters

    Credit utilization comes down to how much of your credit limit you are using. The higher your credit balance is to your credit limit, the lower your credit score. Lower credit utilization means higher credit scores. So when it comes to improving your credit score, it’s pretty important. Why does credit utilization matter? Did you know that amounts owed on accounts contribute 30% towards your credit score, right behind payment history? That means that your high balances are hurting your credit score. And a lower credit score typically means higher interest rates and other fees. When it comes to your credit balances, credit bureaus compile the information onto your credit…

  • Finance

    How to maximize your credit score

    When it comes to credit, Shang knows what she is talking about. Not only has she reached financial independence, but Shang actually uses her credit to travel hack across the globe without overspending. She also works in her off-time as a financial coach, just like me and I wanted to see what her best tips were when it came to credit. Related Article: How to calculate your credit score and how to improve it Start with the Credit basics According to Shang she reached financial independence through being consistent with her frugal lifestyle and spending less than she earned. The difference she would have spent on a lavish lifestyle instead…